UK economy to perform worse than Russia’s – IMF

The British economy

Surging borrowing costs and rising taxes have prompted a sharp growth downgrade.

The British economy will perform worst among the major industrialized nations, the International Monetary Fund has predicted. The UK will be the only G7 member to face a recession in 2023, falling behind the Russian economy, the IMF said in its World Economic Outlook update, published on Tuesday.

Continue reading