Experts at the Higher School of Economics estimate the global economy’s chances of pulling out of the crisis in 2021

Experts of the Higher School of Economics (HSE) jointly with the Russian Union of Industrialists and Entrepreneurs analyzed global economic trends. It became known on Saturday, April 10.

In their report, the experts said that forecasts of global market stabilization after the coronavirus strike are not justified. According to TASS, the analysts rely on the factors that negatively affected the planet’s economy in 2020. Experts argue that they are still to be eliminated. Besides, uneven vaccination of the world’s population will have a negative impact, as will the likelihood of new, more dangerous strains of COVID-19.

“Governments will need to adapt their economic policies to accommodate a longer recession,” the analysts concluded, adding that plans and expectations at the firm level will be another factor in the economic recovery.

The authors of the study stressed that government support for business in a pandemic has, on the one hand, helped. However, price regulation by the authorities poses risks to the economy as it could provoke distortions in the markets.

Thus, the experts call for less administrative pressure on companies. New opportunities to control business appear with the introduction of new technologies and digitalization, experts say.

Earlier, “Profile” reported that the International Monetary Fund (IMF), has revised upward the estimates of Russia’s economic development, improved its forecast of GDP growth in 2021 to 3.8%. In January, the forecast was for growth of 3%.

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