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

: 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 has warned.

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. The IMF said Britain’s predicted GDP fall reflects “tighter fiscal and monetary policies and financial conditions and still-high energy retail prices weighing on household budgets.”

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

IMF announces visit to crisis-hit PakistanKARACHI, Jan 30 —- The IMF will send a team to Pakistan next week to discuss reviving a desperately needed bailout programme, with a foreign exchange crisis bringing imports...
Source: malaymail - 🏆 1. / 86 Read more »

IMF board approves US$4.7 billion support programme for BangladeshIt is the first country to access IMF's Resilience and Sustainability Facility.
Source: malaysiakini - 🏆 20. / 51 Read more »

Britain’s Boris Johnson says Putin threatened him with missile strikeLONDON, Jan 30 — Former British Prime Minister Boris Johnson has said Russian President Vladimir Putin threatened him with a missile strike during a phone call in the run up to...
Source: malaymail - 🏆 1. / 86 Read more »