The special operation in Ukraine has undermined the global economy and it will take several trillion dollars to restore it. At the same time, the current crisis will last until at least 2028. About this issue of Şarku’l-Evsat declaration Mohammed ibn Dulaim al-Qahtani, Professor of Economics at King Faisal University in Saudi Arabia.
“The global economic crisis, including the food crisis, will last until at least 2028. Even if the conflict in Ukraine ends, attempts to bring economic indicators back to pre-war levels may be futile as global GDP exceeds $100 trillion,” Al-Qahtani said.
According to him, to restore the economy, it will take sufficient time to establish and automate digital processes, special procedures and mechanisms before a special operation begins in Ukraine, and only to reach 2022 indicators.
He added that the world’s most important economies may show very low growth rates this year, and some even negative. Therefore, it is necessary to increase diplomatic efforts to resolve the situation in Ukraine, in order to somehow begin to change the situation. In order to find solutions for overcoming the global crisis in the economy, countries friendly to Russia should be included in the process.
February 21 British economist Ian Stewart writes a column for Reaction WroteIt was stated that the sanctions imposed on Russia after the special operation launched by the West in Ukraine were not as effective as expected. Moscow quickly took protective measures in the economy and increased its trade ties with Asia, the Middle East, Latin America and Africa.