What is Brexit effect?

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kriti Staff asked 1 year ago

What actually is brexit and its effect on economy?

1 Answers
Shushant Staff answered 1 year ago

Brexit, literally known as Brexit Referendum, means Britan Exit from European Union. An European Union consist of 28 countries Union among all European Countries. These 28 countries decides the major economic policies for the Europe. And the list of 28 countries changes over years, whenever the Union decides to add or delete a country from the Union then a voting goes on. And this year, London i.e. British has been removed from the Eurpoean Union. 51% has been voted against the British, so they have removed London from the European List. Now, as British is one of the developed countries and GDP of this country depends on the export and Imports. And that\’s why world had a great loss from economic point of view, as now british will not participate in the major economic policy for Europe and which will lead loss to the British GDP and to the exporters too. Some of the major exports and Imports are, technology and Oils. So, Brexit is one of the major decision of 2016, which tends to bearish trend of Stock Market all over the world. NSE has break upto 630 points in quick 2 hours.  Even foreign exchange rate of Pound has decreased to 91 from 110 INR. Now, as in every expect, this decision has emphasized to the economy, so it is one of the major economic loss to the country and whole over the world. I hope, your query has been resolved to some extends.