There is a risk of a US recession in late 2023 or early 2024, says Andrey Klebach, chief economist at VEB Bank.
The expert pointed out in a conversation with him on the sidelines of the events of the St. Petersburg International Economic Forum that this would not affect large banks, but would affect credit institutions and medium-sized insurance companies.
He added: “If we talk about risks in general, then the probability of a recession in the US economy is high, but most likely it will happen in late 2023/early 2024. I don’t think it will affect big banks. , but the average banks and insurance companies will suffer losses.”
According to him, there are many problematic points in the world economy at present: fears of a banking crisis are intensifying in the US and Europe after the collapse of a number of large banks, the most notable of which was the Swiss Credit Suisse Bank. At the same time, depositors continue to withdraw money from credit institutions, and problems with servicing loans are growing. In addition, in a number of developed countries, economic growth rates are declining, or they have entered a state of total recession, as happened in the first quarter of this year with the Eurozone, including Germany, Europe’s largest economy.
Source: News