as well as the accession of King Carlos III to the throne, at a time when United Kingdom a. may be close to encountering Economic Crisis,
The country’s economic situation hasn’t been the best in recent months, as it has been hit by the energy crisis in Europe caused by the conflict between Russia and Ukraine, as well as interest rates hiked by the European Central Bank (ECB).
Some analysts say that if United Kingdom Continue like this, it is possible to enter the country financial crisis at the beginning of the following year.
Why the UK may be facing an economic crisis
Inflation in Britain at 40-year high
one of the important factors of possible Economic Crisis of
The latest inflation data, as the Office for National Statistics (ONS) reported, showed the country’s annual inflation soared to 10.1% in July, reaching its highest level since 1982.
hard numbers changed United Kingdom Inflation is above 10% in the first country in the Group of Seven (G7); And it is estimated that for the next year it will exceed 15%.
For its part, forecasts suggest that its gross domestic product (GDP) progress will drop to “zero” by 2023.
Conflict between Russia and Ukraine affects UK economy
Since the beginning of the conflict between Russia and
the energy sector has been affected and one of the countries that has recently United KingdomSince the country is dependent on this region, the situation is further complicated by the early arrival of winter.
,United Kingdom Being a country that requires high energy content, especially for heating, as conditions are deteriorating, especially in price levels, foreign investment as a means of hedge may be a way out.” , said an economist.
Controlling inflation is my first priority.
We are taking action through strong, independent monetary policy, responsible tax and spending decisions and reforms to promote productivity and growth.
See below for my full details on July inflation data pic.twitter.com/DTDAg995as
— nadim zahawi (@nadhimzahawi) 17 August 2022
Could the UK enter an economic recession?
Some analysts believe that United Kingdom a. stands on the edge of financial crisisBecause of the increase in interest rates by the European Central Bank (ECB), the conflict between Russia and Ukraine is affecting the energy sector and the recent death queen isabellePutting the country at risk of facing such a situation.
According to experts, it is possible that by the end of this year United Kingdom have met all the requirements to enter a financial crisisBecause the expectations for the next year are not encouraging for the country.