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IMF upgrades forecast for economic recovery

The International Monetary Fund is now forecasting a stronger economic recovery this year and next.
 
The IMF has upgraded both its UK and global forecasts compared with what it projected in January.
 
But the British economy is still predicted to return to its pre-pandemic level of activity only in late 2022.
 
The agency also warns that recoveries are diverging dangerously within and between countries.
 
The recovery follows last year's pandemic driven contraction of 9.9 per cent which was the deepest of any of the G7 major developed economies.


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