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UK Economy
IMF praises UK economic recovery - but downgrades growth
THE INTERNATIONAL MONETARY FUND says that the UK economy is on the way to recovery, with the financial sector back in good health and unemployment stabilising. “The government’s strong and credible multi-year fiscal deficit reduction plan is essential to ensure debt sustainability,” the IMF said, though it downgraded the forecast of economic growth there to 2.1% next year. Britain’s budget deficit is the second-largest in the EU after Ireland.
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