IMF upgrades UK growth forecast in boost to Reeves ahead of Autumn Budget

Up to 1.1%

The International Monetary Fund has upgraded the UK's growth forecasts for this year in a boost to Chancellor Rachel Reeves ahead of the new government's first Budget next week.

In its biannual World Economic Outlook, the Washington-based organisation revised its UK growth forecast for 2024 to 1.1%, up from the 0.7% predicted in July. However, its projection for 1.5% growth in 2025 remained unchanged.  This change in the UK's economic outlook was the second largest uptick in projections since July among advanced economies, with only Spain receiving a larger predicted increase of 0.5%.  IMF urges Reeves to temper debt levels to avoid triggering 'adverse market reaction' Ahead of her first major fiscal event next week, Reeves embraced the IMF's predictions: ...