The IMF warned that the UK economy will lose 3.5% of GDP in the case of Brexit without a deal


The International Monetary Fund said that the British economy would suffer a loss from Brexit without a deal for two to three years from now to the end of 2021. If British Prime Minister Theresa May fails to negotiate with the EU leaders about the Brexit delay on Wednesday, then April 12 will be the official deadline for the country’s exit from the EU and the deal will not be concluded. According to IMF estimates, such a scenario by the end of 2021 will lead to a decrease in British GDP by 3.5% relative to the size of GDP with the “soft” version of Brexit. The greatest negative effect on the external and internal demand of the UK will increase trade barriers. At the same time, the EU economy will lose only 0.5%. The IMF's forecast for GDP growth in the UK in 2019 has been lowered to 1.2% from 1.5%. If this forecast comes true, then it will be the weakest economic growth since 2009.

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