There is no reason to believe that global growth will be more than 3% in 2016, said the Minister of economic development of Russia Alexei Ulyukayev.
DAVOS, 23 Nov –. Global economic growth will not exceed 3% in 2016, the world economy is going through a critical period, its growth rate below the growth in the global economy, said the Minister of economic development of Russia Alexei Ulyukayev.
“Now all world trade is going through a critical period. If in the previous quarter-century, the growth rate of world trade was two times higher than the rate of world economic growth, over this time the global economy has doubled, while global trade has quadrupled, so to speak, but now the situation is very different,” said the speaker journalists.
“Now the growth rate of world trade is less than world growth, this pushes cool the situation down. We see reduced demand and this is a problem not only commodity-driven economies like ours,” added the Minister.
“I don’t think global growth will be more than 3% this year,” he said.
Previously the managing Director of the IMF Christine Lagarde suggested that the global economic growth in 2016 will be disappointing. According to her, in many countries the financial sector still has weaknesses, and the emerging market financial risks increase.