If you have had enough of all the doom and gloom that seems to be enveoping the country then skip this post
If anyone can bear being more depressed by our financial situation then read on.
I've been playing catch-up and reading a report published by the IMF in July. It's headed "Gloomy and More Uncertain" I tried to find an extract that gave a anything other than a gloomy out look and the following quote just about sums up.
Quote:
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Targeted fiscal support can help cushion the impact on the most vulnerable, but with government budgets stretched by the pandemic and the need for a disinflationary overall macroeconomic policy stance, such policies will need to be offset by increased taxes or lower government spending. Tighter monetary conditions will also affect financial stability, requiring judicious use of macroprudential tools and making reforms to debt resolution frameworks all the more necessary. Policies to address specific impacts on energy and food prices should focus on those most affected without distorting prices.
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https://www.imf.org/en/Publications/...date-july-2022
The IMF blog by By Pierre-Olivier Gourinchas published on JULY 26, 2022 gives a more indepth look at the figures but seeing the UK coming last in the Advanced Economies, Largest World Economic Outlook Growth Projections table is even more depressing.
https://blogs.imf.org/2022/07/26/glo...rtain-outlook/