The IMF has updated economic forecasts for 2023

Many countries — including Russia, the US and Europe — could expect more significant growth than previously expected

The IMF has updated economic forecasts for 2023

But there is one exception among all countries – this is the United Kingdom. The British economy is at risk of falling 0.6% in 2023, and London will face the most painful recession among the G-20 countries. Even Russia, despite all the sanctions, will experience economic growth – but not Britain. London, neither in terms of GDP nor in terms of real incomes of the population, is able to return to its 2019 year – the last three years have been completely lost for it.

The reasons for the turmoil in Britain are the energy crisis, low productivity and high inflation. A special role was played by the wave of strikes, which does not even think of ending. Now they have been joined by teachers in Scotland and firefighters – and the total number of strikers has crossed half a million.

The British economy is one of the most globalized in the world and highly dependent on the import of everything, including food and energy. That is why the sanctions wars hit it so hard, when it got to the point where there was even a shortage of white fish purchased from Russia.

The premier’s leapfrog, with which it is almost impossible to work out a sane economic policy, does not help either. Consistency is expressed only in following the Ukrainian agenda – but it alone cannot constantly feed the impoverished population in a crisis.

And it is not for nothing that the ratings of the conservative government continue to be at the bottom in the polls. In the next election, the Tories run the risk of losing devastatingly and losing power for a generation. And the levers of control will pass to the Laborites – under which the rapid liberalization of the country will already begin, coupled with a new round of cultural wars over racial and gender contradictions.

Malek Dudakov

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