BANGKOK, Oct 14 (Reuters) – The International Monetary Fund (IMF) is not recommending that the UK accelerate its fiscal consolidation, an IMF official said on Wednesday.
“Our recommendation is ‘stay the course’. We are not saying ‘accelerate the pace of consolidation’,” fiscal affairs director Rodrigo Valdes said during IMF-World Bank meetings in Bangkok.
The UK government, which ran a budget deficit of 4.4% of GDP last year, aims to balance day-to-day spending with tax revenue by the 2029/30 financial year – but previous governments regularly failed to meet similar goals.
(Reporting by David Milliken; Writing by Mikhail Flores; Editing by Martin Petty)
