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More British Aids to Ukraine Despite Economic Predicament

Monday 28 November 2022
More British Aids to Ukraine Despite Economic Predicament

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Alwaght- The British Prime Minister Roshi Sunak is set to announce further military aids to Ukraine in its confrontation with Russia despite an economic crisis caused by home policy and global energy crisis. 

Sunak is expected to deliver a speech in London’s financial district today. 

“We will stand with Ukraine for as long as it takes," read an excerpt of his expected speech, adding: "We will maintain or increase our military aid next year. And we will provide new support for air defense.” 

“Under my leadership, we won't choose the status quo. We will do things differently...," the PM is also set to assert during the upcoming speech. 

Britain under PM Boris Johnson and then Liz Truss approved massive military aids to Ukraine starting with artillery systems and ammunition and continuing with air defenses. 

The major weapons delivered to Ukraine so far included Advanced Medium-Range Air-to-Air Missile (AMRAAM). 

The military aids are in addition to financial packages to Kiev. In June, the British government provided extra £1 billion to the Ukrainian government as the war continued. 

On September 22, London announced $2.63 billion in military aid to Ukraine. Loan guarantees were also provided to Kiev by London. 

These all aids are coming against the backdrop of an unfolding economic crisis in Britain. 

This week, economists warned that the British property market could be on verge of major downturn, with some market watchers warning of a collapse in prices of up to 30 percent. 

The food market is also crisis-stricken, with a growing number of Britons finding it difficult to properly feed their families. 

High energy prices, elevated inflation, rising interest rates and global economic weakness mean the British economy is expected to be in recession until the middle of 2023, according to the new EY ITEM Club Autumn Forecast. 

“Following a forecast 0.3% decline in GDP in Q3, the UK economy is expected to contract around 0.2% each quarter from Q4 this year through to Q2 2023, resulting in GDP falling 0.3% in 2023 as a whole. This is a significant revision from the 1% growth forecast for 2023 in the EY ITEM Club’s July Summer Forecast – although the scale of the upcoming downturn is expected to be shallow relative to previous recessions thanks, in part, to the Government’s intervention on household and business energy bills,” part of the economic forecast said. 

 

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Britain Aids Ukraine Military Economic Crisis Recession

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France Hit by Nationwide Strikes as Unions Fight Macron Pension Cut

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