Darling: Britain's economic recovery "still in infancy"

13:40, March 25, 2010      

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Britain's economic recovery is "still in its infancy" and is expected to increase by 1 to 1.5 percent this year, Chancellor of the Exchequer Alistair Darling said on Wednesday.

When announcing the Budget 2010-2011, Darling said that British economy, which contracted by 6 percent during the recession, will get momentum in the coming years.

He expected the economy to increase by 3 percent to 3.5 percent in 2011 and it will maintain the almost same speed in 2012.

At the heart of the budget 2010-2011 is a 2.5-billion-pound one-off grow package to continue to spur the economic recovery, said the chancellor.

The government deficit in this fiscal year will be 167 billion pounds, lower than he had expected.

Darling had forecasted in the pre-budget report last December that the British government deficit in the current fiscal ending this month would hit 178 billion pounds.

Source:Xinhua
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