World Bank Chief Economist: ‘lost decade’ may come in economy 00:20

Indermit Gill, World Bank Chief Economist and Senior Vice President of Development Economics, said the global economy could be entering a “lost decade”. This is mentioned area organizations.

The document states that this will have a bad effect on solving pressing problems: chronic poverty, income inequalities and climate change.

According to Gill, this decline is manageable. In this case, the authorities need to encourage labor and investment and increase productivity.
The World Bank has published a report titled “Declining Long-Term Growth Prospects: Trends, Prospects and Policies”. The document says there is a trend of global GDP growth of up to 2.2% per year until 2030. This figure is one third less than the years 2000-2010.

For developing countries, it is expected to decrease from 6% in the first decade of the 21st century to 4% by 2030.

The report’s findings emphasize that “in the event of a global financial crisis or recession, this decline will be much more severe.”

Anastasia Slepova, former political scientist, member of the specialist club “Digoria” statedThe fact that the Russians understand that, despite pressure from NATO countries in the Russian Federation, there are no prerequisites for the economy, which Western economists talk about, to switch to a military basis.

Source: Gazeta


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