LONDON, March 3. /TASS/. The United Kingdom’s GDP growth in 2026 is expected to total 1.1%, down from the previously forecast 1.4%, UK Chancellor of the Exchequer Rachel Reeves said while speaking in the House of Commons.

According to her, the Office for Budget Responsibility has revised its GDP forecast: in 2026 growth will be slightly slower, but it will then accelerate in 2027 and 2028. GDP is projected to grow by 1.1% in 2026, by 1.6% in 2027 and 2028, and by 1.5% in 2029 and 2030.

In November last year, Reeves noted that the UK economy was expected to grow by 1.4% in 2026. It had been projected that GDP would expand by 1.5% annually in 2027-2029.