(MENAFN) The Office for Budget Responsibility (OBR), an independent fiscal watchdog, revised up its economic growth forecasts of Britain for 2014 and 2015, Xinhua reported.
British economic growth is predicted to stand at 3.0 percent in 2014 and 2.4 percent next year, which is 0.3 percent and 0.1 percent higher than OBR's forecasts in March.
Meanwhile, inflation is estimated to be at 1.5 percent in 2014 before it fall to 1.2 percent in 2015. Debt as a share of GDP is expected to fall every year until reaching 72.8 percent in 2019-20, noted Osborne.
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