RDIF head Dmitriev spoke about the beginning of a large-scale recession in the US economy

Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF), said US GDP fell 0.9% for the second consecutive quarter, confirming the forecast for the onset of a large-scale recession in the US. US economy.

“US Commerce Department data for the second quarter of 2022, which showed a 0.9% decline in GDP, confirms a major recession in the US, with data on the 1.6% decline in GDP for the first quarter released earlier. “The technical definition of a recession assumes two quarters of decline in GDP,” he said.

According to Dmitriev, all factors point to a further slowdown in the US economy. He also said that the economic situation in European countries continues to deteriorate due to sanctions against Russia, rising inflation and the deterioration of global supply chains.

“While many countries are selling US government bonds, it is increasingly recognized that the sanctions are hurting the US and EU economies more than the Russian economy,” the expert said.

Former analysts at Goldman Sachs estimated Recession in European economies in 2022. The main causes of the economic downturn are called cuts in energy supply, the situation with the recovery from the COVID-19 pandemic, and political instability in Italy.



Source: Gazeta

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