LONDON (Reuters) - British finance minister Rishi Sunak announced updated growth forecasts for the country’s coronavirus-hit economy which was on course to shrink by 11.3% this year before recovering by 5.5% in 2021.
In July this year, the Office for Budget Responsibility had forecast output would fall by 12.4% in 2020 before rebounding by 8.7% in 2021.
Sunak announced the OBR forecasts as he delivered a one-year plan for government spending.
Reporting by David Milliken, editing by Kate Holton
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