The major experts predict that by 2010 the economy of UK will recover. A bold prediction you might say, but it actually seems that they might be right. At least it is positive thinking finally.
The experts forecast a 1.1% growth of economy in 2010. Compared to 0.6% forecast this year the increase is clearly visible. Unemployment levels will reach 3 million as opposed to the forecasted 3.2 millions. A recovery seams very possible, but it won’t be easy to sustain it due to the large UK debts. Although not clearly visible, but most experts are sure that the economy has already started to recover. This trend can be seen not only in UK, but also other countries. So there must be some hard truth behind it all. The experts agree that this recession is somewhat worse than the one in 1990, but not as worse as the one in 1980. Now the only things that could slow down the recovery are; high unemployment, low consumer spending and fragile banking sector. The general idea behind decreasing government debt is to cut back public spending. Of course that will be quite an unpopular action, but is a necessary thing to do.
In general these are very good news. Of course the recovery will not occur in one day. I think we all understand that. It is a long term project which can be achieved only by working together towards a common goal. Let’s hope that 2010 is the year when the global economic crisis will be defeated all across the world.
