Summary:
- The IMF has raised the UK’s growth forecast to 1.1% for this year.
- Chancellor Rachel Reeves welcomed the more upbeat forecast but acknowledged more work needs to be done.
- The US is outperforming other G7 economies with forecasted growth rates of 2.8% this year and 2.2% next year.
- The IMF emphasized the importance of maintaining and increasing public investment to boost productivity and competitiveness.