LONDON, March 15 (Reuters) - Britain's economy is
forecast to contract by 0.2% in 2023, finance minister Jeremy
Hunt said on Wednesday, citing the latest projections from the
Office for Budget Responsibility (OBR).
The new figure for 2023 compared with a forecast for a
contraction of 1.4% in the OBR's previous outlook published in
November.
The OBR forecast economic output would grow by 1.8% in 2024
and by 2.5% in 2025, Hunt said as he gave a budget speech to
parliament, compared with the OBR's previous forecasts of growth
of 1.3% and 2.6% respectively.
(Reporting by Andy Bruce; Editing by Kate Holton)
Messaging: @brucereuters))
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