The IMF predicts the UK economy will grow by 1.1% in 2023, up from previous estimates, indicating a moderate yet positive shift amidst global economic resilience.
Chancellor Rachel Reeves acknowledged the IMF's upbeat forecast but emphasized the need for continued effort, stating that Labour had inherited the worst economic circumstances since WWII.
According to the IMF, while the UK's growth remains slow, it positions the country in the middle of the global economic landscape, reflecting a cautious recovery.
The IMF stated that maintaining and increasing public investment is crucial for economic growth, particularly in sectors that enhance productivity and competitiveness.
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