The International Monetary Fund rules out a recession in the British economy in 2023

  • London, United Kingdom
  • 24 May 2023

The International Monetary Fund has ruled out that the British economy will fall into recession this year by adjusting its assessments it published last month, but warned at the same time that the outlook remains weak.

The fund expects the country's gross domestic product to grow by 0.4 percent, revealing that the decline in energy prices is among the factors behind this.

The fund stated that “the improved outlook reflects the unexpected resilience of demand, helped in part by faster-than-usual wage growth, increased government spending, and improved business confidence,” along with “a decrease in high energy costs and the normalization of global supply chains.”

Source (London Al-Arab newspaper, edited)


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