International Monetary Fund originally predicted post-Brexit recession
by Hugo Duncan
IMF officials were labelled ‘clowns’ with ‘serious credibility problems’ last night after saying the British economy will grow faster than Germany and France in the next two years – only weeks after its doom-laden warnings about Brexit.
After saying that leaving the European Union could trigger a UK recession, the International Monetary Fund now expects the British economy to grow by 1.7 per cent this year and 1.3 per cent next year.
That is weaker than the 1.9 and 2.2 per cent growth forecasts before the referendum, but the UK is still set to be the second-fastest growing economy in the Group of Seven industrialised nations this year – behind the United States – and third-fastest next year, behind the US and Canada.