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The International Monetary Fund (IMF) revises its previous prediction stating that it no longer anticipates a recession in Britain for this year. The IMF commended the government’s efforts to stabilise the economy, combat inflation and cautioned against implementing tax cuts before the upcoming elections. According to the IMF, the country’s gross domestic product (GDP) is now expected to grow by 0.4% in 2023, in contrast to the earlier forecast of a 0.3% contraction made in April.

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