UK GDP To Increase By 4% In 2021, 7.3% Following Year - Treasurer

Mohammad Ali (@ChaudhryMAli88) Published March 03, 2021 | 06:10 PM

MOSCOW (UrduPoint News / Sputnik - 03rd March, 2021) The United Kingdom's economy is expected to increase by 4 percent this year and 7.3 percent the next year, UK Treasurer Rishi Sunak said on Wednesday, citing the forecasts by the Office for Budget Responsibility (OBR).

"The OBR forecast that our economy will grow this year by four percent, by 7.3 percent in 2022, then 1.7, 1.6, and 1.7 percent, in the last three years of the forecast," Sunak said during a parliament session.

The OBR still expects that the UK economy would be three percent smaller in five years' time than it would have been because of the coronavirus pandemic and the crisis that it triggered, the official added.