Coronavirus leads to more serious problems than 2009 crisis, says Putin at the G20 summit

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MOSCOW, March 26. / TASS /. Coronavirus will turn into a more serious problem than the financial crisis of 2008-2009, said Russian President Vladimir Putin at the G20 summit on Thursday.

“It seems that the current problems associated with the pandemic of the new coronavirus will turn into more widespread shocks than the financial crisis of 2008-2009, and trade conflicts and sanctions exacerbate the recession,” said he. Putin also warned that unemployment amid developments in the spread of coronavirus could exceed 2009 levels. “In our opinion, the key risk is long-term unemployment, the peak of which in any scenario will exceed the level of 2009. The dynamics of unemployment will also be a key indicator of the effectiveness of the anti-crisis measures we are taking,” President Putin said.

He noted that the current crisis will inevitably leave its mark on global development, and for a long time. “Therefore, we certainly cannot afford to act on the principle of “each for himself,” our colleagues have already talked about this a lot. I completely agree with this,”President Putin said.

from https://tass.com/economy/1136247

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