British Economy. Threat of Recession Still Looming

... 2010. Focusing on structural and institutional changes in the economy. These two areas are closely linked. Financial stabilization is a necessary condition for changing the pattern of the country’s economic growth. In turn, modernization of the economy and reorganization of its institutions help to address the problems of financial stabilization. Great Britain pursues tight fiscal policies, aimed at reducing the budget deficit and public debt, more actively than other Western countries. The main emphasis is being made on reducing government spending. It is expected that by 2016-2017, the budget ...