Despite the gradual easing of the economy, experts are increasingly admitting that it will take some time to recover from the pre-pandemic situation. The latest projections show that the British economy will recover forever as soon as possible in the middle of 2022.
Over the past year, the UK economy has contracted to an unprecedented degree in the past three centuries. So it is not surprising that despite the decrease in infections (including deaths), the rapid vaccination program and the gradual easing of the lockdown, it will still be some time before everything returns to a pre-pandemic state. A Reuters poll among dozens of economists shows that at the end of 2021, when the government employment support program ends, unemployment in the UK will rise to 6.2%. Meanwhile, experts predict that the British economy will grow by 5 percent this year. And another 5.5 percent. In 2022.
The UK economy after the pandemic
Treasury Secretary Rishi Sunak also expects the British economy to return to pre-pandemic times in mid-2022. Most experts share the same opinion, but not all of them. In a Reuters poll attended by about 70 economists, six experts said the British economy would not recover from the crisis so quickly, and five said it would not only return to a pre-pandemic state, but be much faster. “There are more and more signs that the economic effects of the third shutdown are fading,” said Paul Dales of Capital Economics. He added: “We stick to our relatively optimistic view that reopening the economy and the vaccination program will allow GDP to recover from pre-epidemic levels early next year.
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