budget office head By Reuters

© Reuters. General view of the Canary Wharf financial district in London

LONDON (Reuters) – Britain’s economy is likely to have a slower economic recovery rather than a quick bounce-back after its coronavirus shutdown, the head of the country’s budget forecasting office said on Sunday.

Robert Chote, head of the Office for Budget Responsibility, said a scenario published by the OBR last month showing a quick V-shaped recovery was only meant to be illustrative to show the hit to the public finances.

“In practice I think you are likely not to see the economy bouncing back to where we would have expected it otherwise to be by the end of the year, on that assumption, but instead a rather slower recovery,” he told BBC television.

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by : Reuters

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