UK to be major economy worst hit by Ukraine war, says OECD
by Larry Elliott Economics editor from on (#6043H)
Thinktank forecasts UK growth to slow to standstill in 2023, as impact of conflict felt
Britain's economy is forecast to slow to a standstill next year as it suffers more than any other major industrial country from the effects of Russia's invasion of Ukraine.
The UK will grow by 3.6% in 2022 before posting zero growth in 2023, according to the Paris-based thinktank the Organisation for Economic Co-Operation and Development (OECD), with inflation expected to average 8.8% this year and fall only slightly to 7.4% in 2023.
Continue reading...