403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Moody's cuts UK's ratings amid Brexit fears
(MENAFN) On Friday, Moody's had downgraded UK's credit rating by further notch, as the government is planning to fix the public finances and it had knocked off course and Brexit would weight on the economy.
After Prime Minister Theresa May had set out plans for new relationship with the EU, the ratings agency had cut the rating to Aa2 from Aa1, highlighting economy risks that leaving the EU will affect the fifth-largest economy in the world.
Moreover, Britain worked down the budget deficit from around 10% of economic output in 2010, after the global financial crisis hammered the country, to 2.3% in the recent financial year which ended in March.
After Prime Minister Theresa May had set out plans for new relationship with the EU, the ratings agency had cut the rating to Aa2 from Aa1, highlighting economy risks that leaving the EU will affect the fifth-largest economy in the world.
Moreover, Britain worked down the budget deficit from around 10% of economic output in 2010, after the global financial crisis hammered the country, to 2.3% in the recent financial year which ended in March.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept any
responsibility or liability for the accuracy, content, images, videos,
licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright issues
related to this article, kindly contact the provider above.
Comments
No comment