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The head of the OECD: Economic growth will slow

The growth of the UK economy this year will slow, predicts the Organization for Economic cooperation and development, next year the trend will continue. This year, according to the organization, growth decreased to 1.6 %, while the next – up to 1 %.

14.Jun.17 1:07 PM
By Christina Orlina


The head of the OECD: Economic growth will slow
The reason is that the negative expectations associated with the uncertainty of the outcome of the negotiations on the Brexit.

The Secretary-General of the Organization for Economic Cooperation and development Angel Gurria gave an exclusive interview to “Euronews”. Correspondent Alexander That asked him to comment on the recent forecast that “economic growth this year will slow in the next year it is expected to be 1 %. Household spending and business investment will decline, moreover, weak economic growth could lead to a rise in unemployment above 5 %”.

Angel Gurria: "In the absence of appropriate policy measures such a scenario is possible. And exactly this development I would like to avoid. The incident should be a call to action and also give impetus to increased productivity, accelerating the growth of trade and increased investment. It is also necessary to cast a clear eye on the skills of the workforce”.

Asked to assess the overall situation after the decision of the British Brexit, Gurria said, the situation can be unexpected, it can be said, was a shock – both for the British and Europeans. It is obvious that they will cost the British dearly because the events were not supposed to evolve that way.”

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