Britain may face worst economic slump since 1706, Bank of England warns ...United Arab Emirates

Russia Today - Economy
Britain may face worst economic slump since 1706, Bank of England warns
source : Russia Today ( United Arab Emirates ) () 75
The coronavirus pandemic is set to plunge the British economy into one of the deepest recessions ever, shaving 14 percent off the country’s gross domestic product, according to a Bank of England forecast. The central bank said that the coronavirus outbreak has led to an “unprecedented” situation for the global economy. Evaluating the toll the crisis is set to take on the UK, the bank said that apart from a sharp fall in GDP over the first half of the year, it will also result in a “substantial” hike in unemployment. Also on rt.com EU economy set to contract 7.5% this year in

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