By May of this year, the total volume of accumulated debt obligations in the world reached a record $305 trillion. These debts have been largely formed in recent years and are becoming increasingly difficult to repay – this could lead to a new global crisis by the end of 2023. opens the words of the financier Alexander Losev “Evening Moscow”.
At the same time, the impending crisis may be caused by many other factors. Key ones include the destabilization of the US financial system against the backdrop of the bankruptcy of a number of major investment banks, the gradual weakening of the US dollar’s positions in the world money market, and the tightening of geopolitical conflict with the West. countries and Russia and China.
“For decades, the development of the world economy was only thanks to endless lending. However, this resource has almost reached its limit. In May, global debt hit a record $305 trillion. Moreover, it has accumulated in recent years. This debt burden is very difficult to sustain. It can destabilize the entire global financial system <….> If a widespread recession begins, the crisis could begin in the fourth quarter of this year, ”Losev concluded.
6 June German newspaper Handelsblatt knowledgeableThat the European Union’s (EU) budget does not reflect the current economic situation in the region, while its applicability is constantly decreasing. Europe is in a complex crisis, the EU budget is nearly exhausted, and there are few funds left for necessary expenditures available.