Russian expert reveals 3 scenarios of upcoming global crisis
(Baonghean.vn)- Mr. Mikhail Vasiliev, a leading analyst at Russian bank Sovcombank, told Prime news agency that Russia will likely face all scenarios related to macroeconomic developments drafted by the regulator in 2022-2025.
“Firstly, we expect a global recession scenario in 2023. The energy and food crises, record global inflation and falling household incomes, the fastest tightening of monetary policy by central banks around the world in 20 years, geopolitical conflicts, a new wave of the pandemic – all these factors are rapidly deteriorating the economic situation in the world,” Vasiliev explained.
 |
| Illustration photo. Photo: AP |
Mr. Vasiliev noted that the crisis is mainly related to the geopolitical situation. Specifically, the International Monetary Fund (IMF) has warned of the risk of the world economy being fragmented in the context of the complicated situation related to Ukraine.
Mr. Vasiliev emphasized that a confrontation between the US and China is also expected, with Beijing trying to get rid of its dependence on the US dollar and the euro and stop buying Western securities, which will negatively affect the global economy. The expert said that the economic recession will be further aggravated by the risk of falling oil prices in 2023.
However, Mr. Vasiliev expressed confidence that Russia will cope with the global crisis better than other countries, and the crisis will not affect Asian countries much. Therefore, according to the analyst, Russia's shift to the East and self-development of production will help maintain the job market and reduce the severity of the economic recession./.
