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World Bank believes that 'classic' crises remain in the past

Логотип TASS TASS 02.06.2017 TASS

ST.PETERSBURG, June 2. /TASS/. Classic crises with the decline and systematic restoration of economies remained in the past, the World Bank Chief Executive Officer Kristalina Georgieva said in an interview with TASS at the St. Petersburg International Economic Forum.

"I believe that the" classic "crises stay in the past. Even when they were very serious, they usually went gently and politely, this is how I would call it. Every crisis was waiting for its turn: the crisis starts, the economy reaches the bottom, and then it restores. Growth followed, and only after that one could expect the next recession," she said.

"Today, this classic situation receded into the past: now crises overlap, they do not wait in line. Both national and global financial institutions are not used to living in an atmosphere of overlapping crises," Georgieva believes.


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