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Podcast: Beyond Currency
Episode: 12 April 2023 - IMF confirms its view about the UK economy
Description: The IMF reiterated its view that the UK economy will be one of the worst performing major economies. It expects the country to experience a contraction of 0.3% during 2023, although this is a slight improvement over its previous outlook.
It expects a marginal rebound in 2024 when it believes that the economy will grow by 1%. The continuing high price of gas, although it is now receding, the rise in interest rates and trade performance still affected by Brexit are cited as the main reasons for the decline.
The Office for Budget Responsibility agrees that the economy will contract by but by slightly...