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British Foreign Secretary: The country is going through a very difficult economic situation

2022-05-18T07:27:16.990Z

London, SANA- British Foreign Secretary Liz Truss admitted today that her country is facing a very difficult economic situation.



London-Sana

British Foreign Secretary Liz Truss admitted today that her country is facing a very difficult economic situation with the high rate of inflation to record levels.

"We are in a very difficult economic situation ... we are facing some very serious global headwinds and inflation is very high," Reuters quoted Trace as saying.

Inflation in Britain recorded annual rates of nine percent last April, the highest since official estimates began in the late eighties.

In a related context, a new opinion poll revealed that Britain is experiencing the worst cost of living crisis in three decades, and that the peak of this crisis will be at the end of this year.

The participants in the poll conducted by Reuters expected that the peak of the cost of living crisis they are experiencing will be in the last quarter of this year, while others expected the peak to be in the next quarter.

The British are facing a new crisis represented by high energy prices, increased taxes and the current repercussions of secession from the European Union.

The repercussions of the Ukrainian crisis and the economic sanctions imposed under the pretext of Russia began to directly affect the British, who are under increasing pressure from high prices and inflation, amid experts' warnings of the continuation of financial distress for many years.

British economists expected that economic and financial pressures will increase more than expected and over a period of years, not months, with the continuation of the crisis in Ukraine and the repercussions resulting from Western sanctions on Moscow, in addition to other reasons, including the Corona pandemic and the Brexit process, under which London withdrew from membership of the European Union.

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Source: sena

All business articles on 2022-05-18

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