The United Kingdom’s departure from the European Union poses risks to the world economy, the G20 group has warned.
Brexit “adds to the uncertainty in the global economy,” finance ministers from the world’s biggest economies said in a communiqué Sunday after a meeting in the Chinese city of Chengdu.
However, they said EU countries were “well positioned to proactively address the potential economic and financial consequences” of the historic Brexit vote.
“In the future, we hope to see the UK as a close partner of the EU,” they added.
British Finance Minister Philip Hammond expressed concerns, saying “the reality is there will be a measure of uncertainty continuing right up to the conclusion of our negotiations with the EU.”
“We have the option of a fiscal response, and we will do that on our normal timetable around the autumn statement,” he told reporters.
Hammond said the UK might deploy a stimulus package this fall to counter the…