IMF sees better outlook for UK economy
08 July 2009 15:28:08
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| Organisation changes prediction to see growth in 2010. |
In its latest estimate, the IMF has suggested that the UK economy will grow by 0.2% next year, although it still expects a fall of 4.2% in GDP for 2009.
However, the 2010 prediction is a significant improvement on the 0.4% decline it had forecast as recently as April.
The figures are likely to provide a boost for the government, which had also predicted that the recession would be over before the end of the year, although the IMF prediction for growth next year did fall short of the government's own estimate of between 1% and 1.5%.
In addition, the IMF has also suggested that the world economy, which saw its worst recession since the second world war, will grow by 2.5% next year.
"The world economy is stabilising, helped by unprecedented macroeconomic and financial policy support," the IMF report explained.
"However, the recession is not over and the recovery is likely to be sluggish."
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