EconomyUK faces recession if Strait of Hormuz remains closed, EY warns
Britain’s economy is likely to contract in 2027 if shipping through the Strait of Hormuz does not resume before the middle of next year, EY forecasters warned on Monday. Their assessment links the prolonged closure of the strategic waterway to a possible recession in the United Kingdom. The warning focuses on the economic consequences of shipping being unable to return through the strait.
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UK faces recession if Strait of Hormuz remains closed, EY warns
Economy