UK economy to slump over 10%, debts to surge -Moody’s – ZAWYA

UK economy to slump over 10%, debts to surge -Moody’s – ZAWYA

UK economy to slump over 10%, debts to surge -Moody's | ZAWYA MENA Edition HomeEconomyArticleUK economy to slump over 10%, debts to surge -Moody's Moody's said the UK government's latest $37.9bln stimulus package, announced this week, would aid a gradual economic recovery but add further pressure to the UK's fiscal position    A traffic light is seen surrounded by skyscrapers in the City of London financial district, following the coronavirus disease (COVID-19) outbreak, in London, Britain June 30, 2020. LONDON - Britain will suffer the sharpest peak-to-trough economic slump of any major economy this year, rating agency Moody's warned on Friday, and the coronavirus crisis will push up national debt as a share of GDP by nearly a quarter.Moody's said the UK government's latest 30 billion pound ($37.9 billion) stimulus package, announced this week, would aid a gradual economic recovery but add further pressure to the UK's fiscal position."The UK's public debt ratio will likely rise by 24 percentage points of GDP or more relative to 2019 levels," a group of Moody's analysts wrote in a note, taking the debt to 109% of GDP this year.Moody's said the UK government's latest 30 billion pound ($37.9 billion) stimulus package, announced this