Wednesday May 20, 02:26 PM
IMF says UK economic recovery likely to be subdued
LONDON, May 20 (Reuters) - Britain's economic decline is moderating but any recovery is likely to be subdued, the International Monetary Fund said on Wednesday.
The IMF also said that it was crucial Britain continued a strong
commitment to medium-term fiscal consolidation after the financial crisis was creating a very big budget deficit.
'The economic recovery is expected to be subdued and gradual as banks and households go through a difficult balance sheet restructuring process,' the IMF said in a report.
(Reporting by Sumeet Desai and David Milliken) Keywords: IMF BRITAIN/
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