The International Monetary Fund (IMF) has warned "the worst is yet to come" for the world economy as Russia-Ukraine war continues and prices went up.
In its latest assessment of the global economy it said "for many people 2023 will feel like a recession," reports BBC.
IMF, which works to stabilise the global economy, has downgraded its economic growth forecasts due to the impact of Russian invasion of Ukraine.It said UK growth is set to grind to a near halt next year, growing by 0.3 per cent.
That marks a 0.2 per cent downgrade from the IMF's July forecast, and a sharp fall from the 3.6 per cent rate of growth for the UK economy expected in 2022.
IMF’s analysis, however, does not take into account the chancellor's recent mini-budget.
Bd-pratidin English/Golam Rosul
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