The current global economic crisis, caused by the problems of a number of Western banks, will last until the end of 2024. Words of the former Minister of Finance of Russia Mikhail Zadornov opens RIA News.
“If we are talking about stabilizing the value of assets in the main sectors of the economy, flying venture capital and crypto assets, and suppressing inflation, it is clear that we will not limit ourselves to 2023. Most likely, these are 2023-2024, ”said Zadornov.
He said the global economy is currently facing its first major crisis since the 2008 financial crash. However, its impact will be stronger as economic difficulties intersect with large-scale geopolitical factors.
April 9, former Finance Minister of Russia Mikhail Zadornov in the open Five causes of the current global economic crisis. The most important of these include an unprecedented era of zero interest rates in the US and European countries; monetary expansion programs of the European Central Bank (ECB) and the Federal Reserve System (FRS); harmful effects of the coronavirus pandemic; trade wars and protectionism and international sanctions against the Russian Federation.