Explainer-Next UK leader to inherit an economy in a bind

FILE PHOTO: Conservative leadership candidates Liz Truss and Rishi Sunak walk together out of the stand as they attend a hustings event, part of the Conservative party leadership campaign, in London, Britain August 31, 2022. REUTERS/Hannah McKay

Britain's next prime minister - who will be announced on Monday - will inherit an economy that is forecast to go into a long recession later this year with inflation at a 40-year high and limits on the options for getting growth going again.

Following is a summary of the key issues facing either Liz Truss, Britain's foreign minister, who is favourite to win the keys to Downing Street, or her rival in the Conservative Party's leadership race, former finance minister Rishi Sunak.