BGN Entrepreneur

Last night, world economists warned that the economic situation in the UK will be hit harder than any other developed nation in the worst recession.
The International Monetary Fund outlook suggests that UK’s recession will be deeper than that in the U.S., Italy, France and elsewhere. It is forecast that, in the bleakest assessment of British prospects the economy would further shrink by 2.8% in 2009, twice as much as previously expected and far more than the 2% average drop for other developed countries in 2009. Though Gordon Brown has continually insisted that UK is better placed than most countries during the downturn, the stark figures shows the tough reality.
As the “scale and scope of the current financial crisis have taken the global economy into uncharted waters”, the world growth is expected to rise at no more than 0.5% this year, which means the weakest annual growth since the Second World War.

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