The global economy in the coming years is waiting for a new large-scale crisis. This was stated by the head of the State Duma Committee on Budget and Taxes Andrei Makarov, writes RIA Novosti.
Next to the new crisis, “Great Depression will seem to the children’s toy,” predicted Makarov. “In 2020, he did not begin only because they poured COVID money, and filled with trillions of dollars, spending, in my opinion, absolutely irresponsible politics,” the deputy noted.
Makarov believes that the bubble will quickly burst. Also, according to him, global mechanisms, such as the World Trade Organization (WTO), do not work. The deputy is confident that Russia should think about how to prepare its economy for a new crisis meeting.
The economic downturn associated with the coronavirus pandemic will not be as serious as the global crisis of 2008, but countries still have to recover quite a long time. This was previously stated by the chief economist of the European Central Bank (ECB) Philip Lane.
The new wave of the economic crisis will overtake the world in 2025-2026, it is said in the report of the Center for Macroeconomic Analysis and Short-term forecasting (DSMAKP).