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IMF upgrades UK growth forecast in boost to Reeves ahead of Autumn Budget
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In its biannual World Economic Outlook, the Washington-based organisation revised its UK growth forecast for 2024 to 1.1%, up from the 0.7% predicted in July. However, its projection for 1.5% growth in 2025 remained unchanged. This change in the UK's economic outlook was the second largest uptick in projections since July among advanced economies, with only Spain receiving a larger predicted increase of 0.5%. IMF urges Reeves to temper debt levels to avoid triggering 'adverse market reaction' Ahead of her first major fiscal event next week, Reeves embraced the IMF's predictions: ...
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