UK no longer forecast to enter recession -Hunt

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Published: Mar 15, 2023, 12:52 GMT+00:00

LONDON (Reuters) - Britain is no longer forecast to enter a recession this year, finance minister Jeremy Hunt said on Wednesday, adding that inflation was forecast to fall to 2.9% by the end of the year.

Chancellor of the Exchequer Hunt holds the budget box outside Downing Street in London

LONDON (Reuters) – Britain is no longer forecast to enter a recession this year, finance minister Jeremy Hunt said on Wednesday, adding that inflation was forecast to fall to 2.9% by the end of the year.

“Today the Office for Budget Responsibility forecast that because of changing international factors and the measures I take, the UK will not now enter a technical recession this year,” he said as he presented his budget in parliament.

“Despite continuing global instability, the OBR report today that inflation in the UK will fall from 10.7% in the final quarter of last year to 2.9% by the end of 2023.”

(Reporting by Sarah Young; editing by William James)

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