BAKU, Azerbaijan, June 12. The UK economy contracted by 0.1 percent in April, following 0.3 percent growth in March, according to the Office for National Statistics. Analysts attribute the slowdown to surging global energy prices driven by the US-Israel conflict with Iran, which began with air strikes on February 28.
TurkicWorld reports that Finance Minister Rachel Reeves noted that prior to the Middle East conflict, UK growth was higher than expected and inflation was declining.
She added that while the UK did not participate in the war, its economic repercussions are being felt domestically.
