UK borrowing to hit peacetime high as economy faces COVID-19 emergency ...Middle East

Britain will borrow almost 400 billion pounds this year to pay for the massive coronavirus hit to its economy, finance minister Rishi Sunak said on Wednesday, as he took his first steps to offset the country's highest budget deficit outside wartime. The world's sixth-biggest economy is now set to shrink by 11.3% in 2020 - the most since "The Great Frost" of 1709 - before recovering by less than half of that in 2021, Sunak told parliament as he announced a one-year spending plan.

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