The UK economy is on track to shrink this year and will be at the back of the world’s major economies, the IMF warns

IMF growth forecasts

UK

Other G7

Other major economies

7.5%

India

India

Spain

5.0

China

UK 4%

Italy

Canada

2.5

France

US

Spain

Germany

Euro Area

Japan

UK 1%

Italy

0

UK -0.3%

Russia

-2.5

2022

2023

Projected

2024

Projected

IMF growth forecasts

UK

Other G7

Other major economies

7.5%

India

India

Spain

5.0

China

UK 4%

Italy

Canada

2.5

France

US

Spain

Germany

Euro Area

Japan

UK 1%

Italy

0

UK -0.3%

-2.5

Russia

2022

2023

Projected

2024

Projected