The UK economy is set to shrink in 2023, with a larger decline than other advanced economies, including Russia.

According to the report of the British bureau of APA, this was mentioned in the report of the International Monetary Fund.

The report pointed out that the British economy will shrink by 0.6% in 2023, instead of slightly growing as predicted.

One of the main reasons for this is that the daily cost of living continues to increase and take a toll on households.

In its new forecast, the International Monetary Fund named factors such as high energy prices and high inflation in Great Britain as reasons for the negative impact on the economy.