Webhaber
IMF: Britain set to be worst-performing major economy this year

IMF: Britain set to be worst-performing major economy this year

LONDON: Britain’s economy will slam into reverse this year as the cost-of-living crisis hits households hard and will see the worst performance of all the advanced nations, the International Monetary Fund (IMF) has warned.In its latest World Economic Outlook update, the IMF downgraded its UK gross domestic product (GDP) forecast once again, predicting a contraction of 0.6 per cent against the 0.3 per cent growth pencilled in last October as Britain looks set to suffer more than most from soaring inflation and higher interest rates.But it nudged up its outlook for British growth in 2024 to 0.9 per cent, up from the 0.6 per cent expansion previously forecast, reported PA Media/dpa.The grim outlook for the year ahead puts the UK far behind its counterparts in the G7 group of advanced nations and the only country - across advanced and emerging economies - expected by the IMF to suffer a year of declining GDP.Among the other G7 nations, the IMF’s 2023 GDP predictions show growth of 1.4 per

The U.S. Sun The U.S. Sun | Go to detail of news source

The U.S. Sun, Benzer haberler

The U.S. Sun Trump, lawyers sanctioned nearly $1 million for ‘political’ lawsuit Trump, lawyers sanctioned nearly $1 million for ‘political’ lawsuit
The U.S. Sun Footage from attack on Paul Pelosi released by authorities Footage from attack on Paul Pelosi released by authorities
The U.S. Sun Fire at ArcelorMittal Kazakh mine kills at least 21 Fire at ArcelorMittal Kazakh mine kills at least 21
The U.S. Sun Probed in Brazil, Bolsonaro seeks six more months in US Probed in Brazil, Bolsonaro seeks six more months in US
The U.S. Sun About 500 people evacuated after fire rages through shanty village in Seoul About 500 people evacuated after fire rages through shanty village in Seoul
The U.S. Sun Protests held in Pakistan over Swedish, Dutch attacks on Quran Protests held in Pakistan over Swedish, Dutch attacks on Quran