UK to face ‘worst, longest’ recession among G7 countries in 2023 ...Middle East

MOSCOW: The United Kingdom will face one of the longest recession and weakest recovery among G7 countries throughout 2023 due to long-term inflationary effects of the pandemic and conflict in Ukraine, reported Sputnik.According to economists interviewed by the Financial Times newspaper, the UK would face a longer period of “inflationary shock” than most of G7 states, which would force the government to conduct a strict fiscal policy throughout 2023.“The combination of falling real wages, tight financial conditions and a housing market correction are as bad as it gets,“ Kallum Pickering, senior economist at Berenberg bank, said, as quoted by the news outlet.The UK economy is “unusually expose

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