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IMF: Britain’s economic recovery will lag behind other developed countries

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[IMF: Britain’s economic recovery will lag behind other developed countries]On the 12th local time, the International Monetary Fund (IMF) released its latest global forecast, saying that compared with other developed countries, the impact of the new crown epidemic on the British economy is more durable and serious. The organization predicts that the UK economy will still shrink by 3% from before the epidemic by 2024 and will rank bottom among all G7 countries, while the economies of other G7 countries such as the United States, Canada and Japan will return to their pre-epidemic levels. (CCTV News Client)

12th local time, internationalMonetary FundThe organization (IMF) released the latest global forecast that compared with other developed countries, the impact of the new crown epidemic on the British economy is more permanent and severe. The organization predicts that the UK economy will still shrink by 3% from before the epidemic by 2024 and will rank bottom among all G7 countries, while the economies of other G7 countries such as the United States, Canada and Japan will return to their pre-epidemic levels.

internationalitycurrencyfundThe organization’s prediction is in line with the recent British “Financial Institute” and CitigroupBankConsistent with the forecast. The forecast pointed out that the huge trauma suffered by the British economy will force the British Chancellor of the Exchequer Sunak to use the new taxes to deal with the “sequelae” of the epidemic to the UK, rather than improving medical and social security. At the same time, the proportion of British government borrowing in national income will remain above 3%, which will prevent Sunak from achieving his goal of balancing his budget before the next election.

In addition, the International Monetary Fund also warned that the global economy is facingQualcommIt calls on central banks of all countries to be “very, very vigilant” and take action as soon as possible to tighten monetary policy.

(Source: CCTV News Client)

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