Published On: Wed, Jun 1st, 2022

UK vs EU: How does Britain and the bloc compare for GDP, inflation and jobs? | City & Business | Finance

Last year, GDP in Britain grew by 7.5 percent, representing the fastest annual growth rate since World War 2.

But the International Monetary Fund (IMF) forecast much slower growth for 2022 – 3.7 percent.

In 2023, British GDP is expected to swell by 1.2 percent, which would be the lowest projected annual growth rate in the G7.

On the other hand, the EU is predicted to enjoy even slower growth of 2.7 percent this year, and 2.3 percent in 2023.

The predictions were the first to be made by the bloc, after Russia’s invasion of Ukraine began last February.

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