It looks bleak for the Uk economy in 2020. The country's economy is likely to shrink more than 14 percent, if coronaepidemien continues to do damage. Thus, Britain has exchange rate against the greatest economic decline in 300 years.
the industry association Dansk Erhverv looks worried at the development in the Uk.
- Only in 2019 exported Danish companies 102 billion to the Uk. It makes the Uk for our fourth-largest export market, says seniorøkonom Kristian Writes in a comment.
- It means that about 65.000 Danish jobs are directly or indirectly dependent on exports to the united kingdom. The backlash will undoubtedly be in addition to the many Danish companies ' exports to the united kingdom and thus cost thousands of citizens their jobs, says Kristian Writes.
Last month, said The International Monetary fund (IMF) that the Uk economy stands to shrink by more than ten percent. And the budget office follows the suit with additional dark predictions.
Even in the most optimistic scenario is arbejdsløshedsraten to reach almost ten percent in the third quarter of 2020. A scenario, which will mean that the british government may be forced to borrow up to 400 billion pounds, equivalent to 3281 billion Danish kroner.
this is the sound of the warning from the government office for budgetansvarlighed Tuesday.
- Britain is on track to record the largest annual decline in gdp in 300 years.
- This causes an unprecedented increase in borrowing in the years between 13 and 21 percent of gdp. It promises the debt to over 100 percent of gdp in almost all scenarios, sounds it from the budget office.
Gdp - gross domestic product - is an expression of the size of a country's economy, and is the most widely used financial ratios to measure it.
the increase or decrease indicates whether the economy is growing or shrinking.
Budgetkontorets predictions being used by the government to lead policy.
According to the budget office can tax increases or cuts in investment would help to patch the hole in the public finances.
the Uk is the worst affected country of the corona virus in Europe. The country has recorded about 45,000 deaths related to the coronavirus and has found 291.691 smittetilfælde, shows a statement from Johns Hopkins University.