Համաշխարհային տնտեսության հեռանկարները. ճգնաժամի խորացման ուրվականը / WORLD ECONOMIC PERSPECTIVES: THE SPECTER OF A DEEPENING CRISIS

Abstract

The paper explores the modern prospects for the development of the world economy. In particular, it is noted that most countries managed to avoid deepening economic recession in the winter of 2022 due to the implementation of restraining economic policy. However, in the beginning of 2023 signs of financial system instability emerged due to the increase in the degree of vulnerability of the financial sector driven by a strict monetary policy. The current challenges facing the world economy can be categorized into three groups։ ensuring further recovery of economy, containment of inflation and maintenance of financial stability. From this point of view, governments are advised to adopt a fiscal strategy aimed at reducing the current inflationary pressure and mitigating medium-term public debt vulnerability. The implementation of such a policy will simultaneously stabilize the level of refinancing interest rates.