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IMF Warns Iran Shock Hits UK Hardest as Borrowing Falls

4/23/2026

Summary

Story summary

International Monetary Fund (IMF) warned the Iran war’s energy shock will hit the United Kingdom hardest among advanced economies.
UK borrowing fell to £132 billion in year to March 2026, with March borrowing £12.6 billion, £1.4 billion lower than a year earlier.
Capital Economics and Pantheon Economics project borrowing could rise to about £145 billion this year as interest costs increase pressure.
Treasury Chief Secretary James Murray said deficit fell £19.8 billion because of borrowing cuts.

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Story summary

International Monetary Fund (IMF) warned the Iran war’s energy shock will hit the United Kingdom hardest among advanced economies.
UK borrowing fell to £132 billion in year to March 2026, with March borrowing £12.6 billion, £1.4 billion lower than a year earlier.
Capital Economics and Pantheon Economics project borrowing could rise to about £145 billion this year as interest costs increase pressure.
Treasury Chief Secretary James Murray said deficit fell £19.8 billion because of borrowing cuts.