Smooth Brexit to see steady growth for UK over next two years: forecast

Source: Xinhua| 2018-12-07 02:03:06|Editor: yan
Video PlayerClose

LONDON, Dec. 6 (Xinhua) -- The British economy will expect a steady growth over the next two years if the Brexit deal can be implemented smoothly, the Confederation of British Industry (CBI) said Thursday.

Under the scenario of an orderly Brexit, British business investment will rise and export growth will keep continuing during the following two years, CBI said in its latest economic forecast.

According its prediction, Britain's GDP will see growth of 1.3 percent in 2018, 1.4 percent in 2019 and 1.6 percent in 2020 if there comes an orderly Brexit in 2019.

Carolyn Fairbairn, CBI Director General, said: "An orderly Brexit next year would see the UK enjoy steady economic growth for the next couple of years."

By comparison, "no deal scenario would blow these figures out of the water, severely hurting businesses, jobs and living standards," she added.

Carolyn said that the current deal was not perfect, but it was the only choice to protect British economy.

She also noted that British business sector had proved resilient facing the great uncertainty since the referendum.