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The G7 nation set for the slowest economic growth

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With the war in Ukraine waging on, the recovery of the global economy post-Covid will be ‘severely set back’

The International Monetary Fund warns the violence is driving up prices for food and fuel and this is expected to slow economic growth right around the world.

The United Kingdom will likely be hit the hardest and Britain will no longer be the fastest growing economy in the G7 group of Western nations, in fact it will be the slowest in 2023.

The IMF says price pressures will almost certainly lead to consumers tightening their purse strings, with households cutting spending.

Overall, the UK’s economy is forecast to grow by 3.7 percent this year, a figure which is down from the previous forecast of 4.7 per cent.

But in 2023, the predicted figures are even worse, the UK is expected to have a growth of just 1.2 percent, almost half of the previously expected figure.

As the IMF continues to work closely with nations right around the world to stabilise the global economy, it warns inflation is now a “clear and present danger” in many countries.

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Money

Recovery on the horizon: investing in growth

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The ‘gloom to soon’ signal points to shares and property gains

Money Minute features finance expert Dr. Steve Enticott from CIA Tax, guiding audiences through practical advice and innovative strategies for financial freedom.

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Money

Navigating the downturn: investment tips for tough times

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Why the contraction phase calls for cash-focused strategies

Money Minute features finance expert Dr. Steve Enticott from CIA Tax, guiding audiences through practical advice and innovative strategies for financial freedom.

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Money

Warning signs of the boom: time to cash out?

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How to spot overheating markets and safeguard your investments

Money Minute features finance expert Dr. Steve Enticott from CIA Tax, guiding audiences through practical advice and innovative strategies for financial freedom.

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