Predicting extreme poverty for hundreds of thousands of British families.
Analysts say Britain is on the brink of recession, and if the government does not take immediate action, the number of poor Britons will reach one million next year.
As the economic consequences of the Ukraine-Russia war intensify in various areas of the world, including fuel prices and food security, hundreds of thousands of British families are expected to live in extreme poverty next year.
Bloomberg News predicted Sunday morning that the number of Britons living in extreme poverty could reach one million by 2023.
According to the report, Bloomberg made this prediction based on data from the British National Institute for Economic and Social Research (NIESR).
Analysts say Britain is on the brink of recession and that another 250,000 families will be in “extreme poverty” if the London government does not take immediate action to address the crisis.
According to Bloomberg, the UK is facing one of the worst shocks in the major developed economies, as sharp rise in energy prices due to the Ukraine crisis and tight labor markets leads to higher inflation.
According to the British Institute, inflation in the country will reach 14.4 percent by the end of this year, which is the highest rate in the last four decades, and the British economy is expected to decline by 5 percent by the end of the year.
According to RIA Novosti, after the launch of a special Russian military operation to demilitarize and de-Naziize Ukraine, the West increased the pressure of sanctions on Moscow. Restrictive measures primarily affected the banking sector and the field of high-tech products. Some countries have announced the freezing of Russian assets, many companies have stopped operating in this country.
