The International Monetary Fund predicts that the UK’s economic performance will be the worst of the G7 in 2023, amid heightened global financial uncertainty. It has been reported DEA News.
According to IMF projections, the UK’s GDP could shrink by 0.3% in 2023 and grow by 1% next year. This makes the UK the second G7 member after Germany to face an economic downturn.
“Our forecast is that 2023 will be a tough year economically for the UK, but growth will pick up again in 2024,” said IMF chief economist Pierre-Olivier Gourinsha.
According to him, the fund supports world banks’ anti-inflation actions that have set a record for 40 years (in the UK it currently stands at 10.4%), but explained that an increase in interest rates could lead to its discovery. fundamental problems of the financial system.
formerly IMF developed Russia’s GDP growth forecast in 2023 rose to 0.7% and growth prospects for 2024 worsened to 1.3%.