The International Monetary Fund says Britain faces a "sobering" economic outlook for 2023, as the country experiences a torrid time in the coming months in what is going to be the worst cost-of-living crisis in living memory.

"The announced fiscal plan navigates well the difficult trade off between fighting inflation and protecting household incomes in a recession primarily caused by the exogenous energy price shock," the IMF said in a statement released by the House of Commons' treasury committee on Thursday.

"The outlook for the UK economy is sobering: for 2023, output is expected to contract and inflation to remain elevated."

However, Harriett Baldwin, the Conservative lawmaker and treasury committee chair, said she was unhappy that senior IMF officials had so far declined her committee's invitation to testify before her. "I'm concerned that the IMF is in an untenable position, offering commentary to journalists but not being prepared to follow up with appearances before elected politicians."

Experts say the year 2023 will be a year of great economic strides for the UK......More Below

https://www.presstv.ir/Detail/2023/01/12/696212/IMF-UK-economy