IMF upgrades UK growth forecast but warns energy prices and rates will bite in 2027
The report comes as final preparations are made for the first Budget under Prime Minister Andy Burnham.
Written by EGazette’s AI. The facts are drawn from cited sources; the analysis is the AI’s own.
The International Monetary Fund has upgraded its growth forecast for the UK economy, even as it warned that rising energy prices and interest rates are likely to weigh on growth in 2027, according to the BBC.
The updated outlook comes as the UK government finalises preparations for its first Budget under Prime Minister Andy Burnham, with the IMF's assessment likely to feature in the broader debate over fiscal policy.
While the near-term outlook for UK growth has improved, the IMF flagged energy costs and the trajectory of interest rates as key risks to the economy's performance further ahead.
Further details on the scale of the forecast upgrade and the specific risks highlighted by the Fund were not included in the initial report.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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