Jeremy Hunt previously told Laura Kuenssberg “this year we have the fastest growth in the G7. We’re catching up fast in that respect”.
The International Monetary Fund (IMF) predicts that the UK economy will grow by 3.6% in 2022. This is faster than any other country in the G7, a group of the world’s richest countries.
However, the latest figures show the UK economy shrunk by 0.2% between July and September and the Bank of England has forecast a “very challenging” two-year recession.
Despite stalling growth at the moment, the UK economy is bigger than it was in 2021 when the country was under lockdown for the first few months of the year.
The IMF now expects the UK to grow by 0.3% in 2023, down from its previous estimate of 0.5%.