Tuesday, April 16, 2024
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UK is at risk of a severe financial crisis – News Line

UK is at risk of a severe financial crisis

UK is at risk of a severe financial crisis


According to foreign media reports, the Central Bank of Great Britain has warned that the country may face a severe financial crisis by the end of this year, which will be as severe as the inflation in the 1990s.

The Bank of England has expressed fear that the rate of inflation in the United Kingdom will remain up to thirteen percent this year. Due to inflation, the prices of petroleum products and gas are also likely to increase to an alarming extent.

Due to the severe economic situation in the UK, the income of various households will remain low for two consecutive years. The unemployment rate is likely to remain between 3.7 and 6.3 percent for three consecutive years.

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