IMF upgrades UK economic outlook to become ‘fastest growing’ major economy in Europe

In accordance with the January 2025 replace to the IMF International Financial Outlook, the UK financial system is anticipated to develop by 1.6% this 12 months and 1.5% in 2026.
IMF backs Rachel Reeves’ ‘sustainable’ £40bn tax hikes
This compares to the earlier outlook in October 2024, when the IMF forecast development of 1.5% for the present 12 months.
Chancellor Rachel Reeves mentioned that, aside from the US, the UK was the one G7 financial system to have its development forecast upgraded for the 12 months.
Moreover, she famous that the IMF’s revised financial outlook meant the UK is “forecast to be the quickest rising main European econ…