Economic Overview Good As Finance Statement Released

Day 380, 02:44 • Published in United Kingdom United Kingdom • by wazcaster

The latest government finance statement has revealed that the overall outlook for the economy is positive, as growth begins to take hold.

The economic statement released by the Ministry of Finance has revealed that for the first time since the launch of V1, the UKs inflation figure has gone into positive figures, reaching 5.19% for the past week. This indicates that the deflation which had reviously gripped the economy is beginning to slow, signalling the beginning of a new era of growth. The Treasury is also burgeoning, with current treasury deposits standing at £123,302, alongside 3772 gold.

The Bank of Englands new currency benchmarks, however, are now looking a little off the mark, with 1 gold now equalling £36.70, compared to the BoE's figure of 1 gold = £40, showing that the BoE's figure is actually devaluing the currency.

And despite a trade defecit of 174.58 gold, the economy is continuing to gain momentum, with the overall mid to long term prospects looking positive, the UKs GDP for the last reporting period being 472.08 gold, signalling an end to the overproduction that has plagued the UKs economy.

Prices in the markets have remained relatively steady, with Q1 food being sold at around £0.48, and Q2 remaining at £1.32. The only current sector of production that is likely to experience some difficulties is the hospital sector, which may run into some difficulties in the mid to longer term. The Defence System sector is set for a boost, as the government looks to upgrade many of the defence systems in the border regions, with the East of England recently gaining a Q5 Defence System from Zycon Forts.

Looking further into 2009, it is likely that the economy could grow further, however if inflation rises too far into the positive, it could hurt the prospects for the future growth of the economy.


The economic forecast for the UK is for a light drizzle of inflation moving in from the South-East followed by lighter spells of growth. Northern parts of England and Southern Scotland will see some more patchy price rises, whilst Northern Ireland should remain clear for most of the day.

Data: Ministry of Finance, Weekly Report (December 2), HM Treasury, The Food Market, http://forum.erepublik.co.uk