So much for Brexit disaster! UK economy set to TROUNCE eurozone, IMF report says

EXPRESS.CO.UK

The findings of two studies published by the the body show the UK is on track for two years of growth and is anticipated to outperform Germany, France and Italy. The economy is expected to expand by 1.4 percent this year and by 1.5 percent in 2021, it said. It marks an optimistic outlook for the UK’s post-Brexit future after last year’s growth was recorded at 1.3 percent.

But the predictions are based on the condition that an orderly Brexit will take place on January 31 and trade talks with Brussels will play out well.

Boris Johnson is due to take the country out of the bloc in just 10 days, with Brexit voters across the UK set to celebrate the historic moment at 11pm UK time (midnight Brussels time).

Following the exit, British and EU negotiators will gather to thrash out a free trade deal before the end of the transition period on December 31, 2020.

The Washington-based IMF published its forecasts ahead of the World Economic Forum in Davos, Switzerland, which kicks off on Tuesday.

The 189-member group said Britain would come in third in terms of growth among the G7 advanced economies.

 

The 189-member group said Britain would come in third in terms of growth among the G7 advanced economies.

The Group of Seven, known as the G7, consists of the largest IMF-advanced economies and includes the UK, US, Canada, France, Germany, Italy and Japan.

The projections for the next two years put American at the forefront, ahead of Canada and the UK respectively.

The promising outlook flies in the face of doom-mongers who have been pushing Project Fear warnings since before the UK voted to break ties with the bloc.

Anti-Brexit pundits warned the economy would suffer a heavy blow when Britain went on its own path.

Twitter users hit out at lies circulated by pro-EU commentators in light of the latest IMF predictions.

One person said: “According to the IMF, Great Britain will be the fastest growing G7 economy next year, beating our European ‘friends’ France & Germany… thanks #Brexit for enabling this!”

Another said: “The UK economy will outpace the struggling eurozone in the first tow years after Brexit, the IMP has predicted for the first time.

“Britain also outpaced the EU in 2019, giving it 3 straight year of faster growth.

“So much for Brexit disaster.”

And a third said: “Brexit will be a huge boom for the economy.

“London is the world’s greatest city and will remain so.” Read more

📣 What’re your thoughts? Have your say.

This site uses Akismet to reduce spam. Learn how your comment data is processed.