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The global economy predicted a recession


New York Stock Exchange. Archival photoMOSCOW, 25 May. The world economy is in danger of recession. With such a warning, citing the findings of analysts, the Financial Times issued. China's economic growth prospects have been undermined by strict quarantine measures in an attempt to suppress the increase in the incidence of the micro-strain of the coronavirus COVID-19; The US Federal Reserve is in danger of turning prosperity into recession; European households are experiencing a cost-of-living crisis; and in many poor developing countries, the situation is even worse, because they are threatened with a food crisis and even mass starvation, the publication lists signs of an impending crisis. Each of these four problems is “poisoning” the global economy as it recovers from the pandemic, and, as noted in publication, it is not surprising that the atmosphere is deteriorating. “Now we are again afraid of a global recession, only this time everything is more than real,” Robin Brooks, chief economist at the Institute of International Finance, quotes the publication. Economy ministers and officials will have to use all their skills in responding to difficult situation, summarizes the Financial Times.The head of the US Treasury believes that Europe is under the threat of a recessionEarlier, Bloomberg published a story stating that the EU was under economic pressure from all sides, while there are doubts that the European Central Bank will be able to avoid a recession or stagflation, “which everyone is so afraid of” .After the start of a special military operation to denazify and demilitarize Ukraine, Western countries stepped up sanctions pressure on Moscow. Now the European Commission is discussing the sixth package of restrictive measures, which includes, in particular, a phase-out of Russian oil imports. It has not been possible to agree on it yet, as some countries, including Hungary, Slovakia, the Czech Republic and Bulgaria, require exceptions for themselves. Against this background, fuel prices are rising, which has already led to economic problems in Europe and the United States. Thus, annual inflation in 19 eurozone countries, according to preliminary estimates by Eurostat, accelerated in April to a record 7.5 percent, although a year ago the figure was only 1.6 percent. /strong>

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