Compared with the forecasts made in the 2016 Economic and Financial Document, the estimates in the Update have been revised upwards by 0.2 percentage points of GDP in 2017 (to 1.6 per cent) and by around 0.4 percentage points on average for the two years 2018-19.
These revisions mainly reflect the slowdown in GDP growth, partially offset by a reduction in interest payments (of about 0.1 percentage points of GDP on average over the three years).