UK's Sunak: too early to predict shape of recovery from recession

UK's Sunak: too early to predict shape of recovery from recession

Britain is facing a significant recession but it is too early to tell how quickly the economy will be able to recover, British finance minister Rishi Sunak said on Thursday.

Britain's Chancellor of the Exchequer Rishi Sunak leaves Downing Street, in London
Britain's Chancellor of the Exchequer Rishi Sunak leaves Downing Street, in London, Britain July 8, 2020. REUTERS/Hannah Mckay

LONDON: Britain is facing a significant recession but it is too early to tell how quickly the economy will be able to recover, British finance minister Rishi Sunak said on Thursday.

Asked about the outlook for the economy, Sunak said: "It's too early to tell... we won't know the exact shape of (the) recovery for a little while."

"I am absolutely anxious about the state of the economy. We are... entering into a very significant recession, we know that that is happening," he told Sky News.

(Reporting by William Schomberg and Kate Holton; writing by Alistair Smout)

Source: Reuters

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