Global GDP return to pre-crisis year possible in 2022 - experts

The global GDP will possibly return to the pre-crisis year level in 2022, according to experts, who spoke at VTB Capital’s "RUSSIA CALLING!" forum.

"As to global GDP – it’s return to the pre-crisis levels does not mean it will be back at the previous growth trend. If there are no further significant setbacks, in 2021 the world will go back to the level of late 2019 – early 2020 sometime in 2022. In Russia we expect this in the first half of 2022 ", - said Alexei Zabotkin, deputy chairman of the Bank of Russia.

Stefan Hofrichter, head of global economy and strategy of CFA Allianz Global Investors, thinks that a return to the pre-crisis production volumes will go on for many years. In his opinion, it is still too early to speak of fast recovery due to the uncertainty in relation to the spread of the coronavirus and vaccine efficiency.

"I think we will be back at the pre-crisis level in a year", - said Miroslav Singer, director for institutional relations and chief economist of Generali CEE Holding B.V.
According to him, South-East Asia will make the fast recovery from the shocks, caused by the pandemic. In his opinion, governments will have to do a lot and fast V-shaped recovery is unlikely.