Treasury sticks by its forecasts, despite Greek deterioration

Tue, 05 Jun 2012

June 05 (BusinessDesk) - The Treasury is sticking by the forecasts it published in last month's Budget, saying the Greek crisis had worsened the risks of lower growth, but its "central scenario" for growth "remains valid at this stage." The comment is in the economics department's latest monthly analysis of economic trends, and follows widespread scepticism about the strength of its Budget forecasts, which were signed off in late April for publication in late May. "Downside risks have increased and our downside scenario can be seen as indica...

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