| answer text |
<p>The Office for Budget Responsibility (OBR) is responsible for producing forecasts
of the economy and public finances. HM Treasury does not produce forecasts of the
economy or public finances. The latest official forecast of Gross National Income
(GNI) was published by the OBR on 11 March 2020. As mentioned in the reply you received
on 29 June, the OBR published a reference scenario on 14 April assessing the potential
impact of coronavirus on the economy and public finances. In this scenario real Gross
Domestic Product (GDP) is assumed to fall by 12.8% in 2020 before recovering quickly,
growing by 16.1% in 2021. The Official Development Assistance (ODA) commitment is
linked to the size of the economy, so the level of ODA spend is likely to decrease
this year. We take evidence-based spending decisions and ensure departments maintain
high standards of programme delivery that are consistent with HMG best practice.</p><p>
</p>
|
 |
