From the TUC

The IMF vs the OBR

19 Jul 2012, by Guest in Economics

Today’s IMF report is getting a lot of attention, and is something I’ll no doubt be blogging about in more detail in the future.

But one thing has really caught my eye – the difference between the OBR’s latest medium term forecasts and those of the IMF.

We learned this week  that the IMF had slashed it’s forecasts for 2012 and 2013. We now have their UK forecasts out to 2016.  The table below compares them to the latest OBR numbers.

As can be seen the OBR are numbers are considerably lower. No wonder the IMF thinks the Government will now miss it’s own fiscal target of falling debt/GDP by 2015.

Update: Just to give some context to that the IMF now forecast that the economy will be around £40.7bn smaller than the OBR had hoped by the end of 2016.

3 Responses to The IMF vs the OBR

  1. The IMF predicts a lost decade | ToUChstone blog: A public policy blog from the TUC
    Jul 20th 2012, 11:11 am

    […] Yesterday we got the IMF forecasts for the UK economy out to 2016 and I as noted they are considerably weaker than what the OBR are currently estimating. […]

  2. The IMF is predicting a ‘lost decade’ for the UK | Liberal Conspiracy
    Jul 23rd 2012, 9:17 am

    […] on Tumblr On Friday we got the IMF forecasts for the UK economy out to 2016 and I as noted they are considerably weaker than what the OBR are currently […]

  3. When will the debt get back to normal? Not in your lifetime! | Flip Chart Fairy Tales
    Aug 2nd 2012, 6:57 am

    […] last week, the IMF came up with growth forecasts significantly below the OBR’s, as this table from Duncan Weldon […]