Brexit has cost Britain £600 million a week: Goldman SachsApril 2, 2019 - 13:24 AMT PanARMENIAN.Net - Britain’s chaotic exit from the European Union has cost the economy about 600 million pounds ($785 million) per week since the 2016 referendum, Goldman Sachs said on Monday, April 1 in a report that underscores how Brexit uncertainty has dented investment, Reuters reports. The report found that Brexit had cost the world’s fifth largest economy nearly 2.5 percent of GDP at the end of last year, compared to its growth path prior to the mid-2016 vote on exiting the bloc. It has also lagged other advanced economies. “Politicians in the UK are still struggling to deliver on that vote,” Goldman Sachs economists wrote in a note to clients. “The resulting uncertainty over the future political and economic relationship with the EU has had real costs for the UK economy, which have spilled over to other economies.” The U.S. bank said Brexit uncertainty has been a major driver of economic output losses as they are concentrated in investment. “Uncertainty shocks weighed on investment growth in the immediate aftermath of the Brexit vote, as well as more recently amid the renewed intensification of Brexit uncertainty,” the economists said. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |