World News | UK Exchequer predicts no recession this year

LONDON, March 15 (AP) — U.K. Finance Minister Jeremy Hunt predicted the country will not enter a technical recession this year.

Summing up the state of the UK economy, Hunt said the authorities were vigilant and “taking all necessary steps to keep the economy stable.”

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“The OBR forecast today that the UK will not enter a technical recession this year because of changing international factors and the measures I have taken,” he told the House of Commons on Wednesday.

He added that Britain’s independent budget watchdog “predicted that we would meet the Prime Minister’s priorities of halving inflation, reducing debt and boosting economic growth. We are delivering on the plan and it is working. But it is not All we do.”

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The country has been predicted to slide into recession, in part because of record inflation and rising energy prices due to the war in Ukraine. (Associated Press)

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