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Danish economy would be hard hit by Brexit: survey

Xinhua, May 27, 2016 Adjust font size:

Denmark's economy would be hard hit by a Brexit, latest survey showed on Friday.

Denmark's gross domestic product (GDP) could be reduced by 0.25 percentage point in 2016 and 0.5 percentage point in 2017, if the UK votes to leave the European Union (EU), according to an economic survey released by Denmark's Ministry of Finance.

The Danish government already projected low growth in the coming years, expecting the economy to grow 1.1 percent in 2016 and 1.7 percent in 2017.

"A British exit is something that concerns everyone in Europe. We've tried to put forward some ideas on what an exit would mean for Denmark," said Danish Finance Minister Claus Hjort Frederiksen.

"On the whole, it depends on what is happening in the European economy," Frederiksen added.

The UK is one of Denmark's most important export markets and a British exit from the EU "will have impacts on the Danish economy and the other European countries via falling trade volume and investment," said the survey.

It added that "there is considerable uncertainty about the degree of impacts."

The UK will hold a referendum on June 23 to decide if it will stay in or leave the EU. Endit