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Britain's economy is likely to feel the pain of Brexit more sharply in the coming years despite holding up well so far, according to finance minister Philip Hammond's latest plan to steer the economy through its split from the European Union. Hammond, announcing an annual budget shortly before Britain is due to launch its Brexit divorce process, said the world's fifth-biggest economy had so far "continued to confound the commentators" by withstanding the referendum shock. The economy is on course to grow by 2.0 percent in 2017, up from a forecast of 1.4 percent made in November, according to official forecasts.
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