(MENAFN) On Friday, Moody's had downgraded UK's credit rating by further notch, as the government is planning to fix the public finances and it had knocked off course and Brexit would weight on the economy.
After Prime Minister Theresa May had set out plans for new relationship with the EU, the ratings agency had cut the rating to Aa2 from Aa1, highlighting economy risks that leaving the EU will affect the fifth-largest economy in the world.
Moreover, Britain worked down the budget deficit from around 10% of economic output in 2010, after the global financial crisis hammered the country, to 2.3% in the recent financial year which ended in March.
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