The British economy is likely to become the worst recession among the G7 countries in 2023.

(Bloomberg)

[Financial Channel/Comprehensive Report] According to the "Financial Times" survey, as British households bear the cost of government policy mistakes, most respondents believe that the UK will have the worst economic recession in the Group of Seven industrialized countries (G7) in 2023 one of the countries.

In addition to policy mistakes, there are also high inflation caused by the war between Russia and Ukraine and the epidemic. The inflation lasts longer than other countries, which also forces the Bank of England to maintain high interest rates and tightening policies. More than 4 out of 5 people expect the UK to lag behind Elsewhere, GDP will contract for most of 2023.

Please read on...

Even if the economy recovers, most people still think the UK will continue to lag behind because of policy mistakes that compound existing problems in the UK, such as lower productivity, business investment and government neglect of public services and damage to trade caused by Brexit, more than 1 in 4 It is believed that Brexit will continue to drag down economic growth.

In addition, Britain is not the only country facing the threat of recession. Kristalina Georgieva, managing director of the International Monetary Fund (IMF), recently warned that one-third of the world's economies and half of the EU's economies will face recession this year.

According to the forecast of Consensus Economics, a British macroeconomic research company, the British GDP will decline by 1% by 2023, and the entire euro zone will shrink by 0.1%.

Grasp the pulse of the economy with one hand I subscribe to Free Finance Youtube channel

Already added friends, thank you

Welcome to 【Free Finance】

feel good

Already liked it, thank you.

related news