brytfmonline

Complete News World

The UK will be the best performing European economy in the next 15 years

The UK will be the best performing European economy in the next 15 years

These views come from the UK's Center for Economics and Business Research (CEBR), which recently released new long-term forecasts. According to the CEBR, the UK's GDP is on track to consolidate itself into sixth place among the world's largest economies.

The British economy will approach the German economy and increase its superiority over France, and should provide the best performance over the next fifteen years among the major European economies.

Views are Think tank British Center for Economics and Business Research (CEBR), which recently released a new long-range outlook. According to CEBR, the UK's GDP is expected to grow by between 1.6% and 1.8% until 2038, figures that contribute to cementing the sixth position among the world's largest economies.

China is expected to become the world's leading power in 2038, he predicts research Center, Followed by the United States and India.

The World Economic Association table, which analyzes the development of GDP in various world economies in the short, medium and long term, places Japan in fourth place, Germany in fifth place, and the United Kingdom in sixth place. In the year under review, the latest CEBR forecast, France fell one place to seventh, followed by Brazil, South Korea, Canada, Indonesia, Italy, Australia, Russia, Mexico, Spain, and increasingly followed by Turkey.

According to these forecasts, the Indonesian economy will thus overtake the Spanish economy, which will move to sixteenth place in the CEBR table. The Spanish economy will therefore be excluded from the group of fifteen largest in the world.

In terms of population, the United Nations estimates that Indonesia's population will continue to increase to more than 320 million people in 2050, The Economista reported. For Turkey, projections indicate growth exceeding 95 million people in 2050. In the case of Spain, the opposite is true. According to the United Nations, the Spanish population will soon begin to decline, falling to less than 40 million people as of 2075.

See also  China has accumulated thousands of electric cars and leaves them, "God forbid."

“The isolated figure is a bit anecdotal, but if we analyze it in depth (looking back), we can see the drama that the Spanish economy has been experiencing since the beginning of the financial crisis in 2007. More than two decades of losses experienced” Resources were concentrated in sectors with low productive and non-tradable/exportable (during the bubble years, significant resources were allocated to housing construction) which were not used to implement a change in the real growth model,” the Economista reported in an article regarding the publication of the list, highlighting that “the positive side is that “The Spanish economy is now more competitive and able to grow without causing disruptions.”

The period 2004-2007 was one of the golden periods for Spain, which became the eighth largest economy in the world. However, in the last two decades, growth in Spain has been practically non-existent, notes the Spanish newspaper, referring to the financial crisis, sovereign debt and recession caused by Covid-19.