The International Monetary Fund has revised its UK GDP for growth forecast for 2017 down from 1.7 per cent to 1.6 per cent.
In its annual review of the UK economy it also said that growth next year will remain unchanged at 1.5 per cent, with Brexit negotiations remaining a “key uncertainty”.
The IMF’s director general Christine Lagarde denied that it was being too “gloomy” over Brexit and said the fund’s controversial forecasts ahead of the referendum had been vindicated.
“We were not too gloomy - we were on the mark. Our forecasts turned out to be the reality of the economy.”
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