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Experts estimate how long the economic crisis due to the pandemic will last

States will also face more complex political issues triggered or exacerbated by the crisis, experts say.

Experts estimate how long the economic crisis due to the pandemic will last

Photo: 1prime.ru

MOSCOW, Nov 10 - PRIME. The negative impact of socio-economic shocks due to the measures taken by the authorities of the countries of the world in connection with the pandemic of the new coronavirus will last until 2021 and later, according to the report of the international rating agency Moody's .The expert suggested the letter K for the forecast of the economy after the coronavirus

"The consequences of the pandemic and the measures taken by states to contain them have caused economic, financial and social shocks that will last until 2021 and beyond. In the short term, states with low credit ratings will be most affected, given their low economic and institutional resilience, and also their more limited access to finance compared to countries with a stronger credit profile, "the document says.

However, in the medium term, all states will face more complex political issues caused or exacerbated by the crisis, experts say. These include developing strategies to exit the existing course of supporting the economy without compromising its recovery, as well as structural economic and social reforms that will support long-term economic growth.

Agency experts point out that as of November 9, the forecast for 60% of all calculated 108 sovereign ratings of Moody's were negative. This figure is higher than in 2019 (20%) and in 2018 (30%). And almost a third of all rating actions carried out this year - 33 - fell on downgrades, and this is the highest level since 2016, when the shock from the fall in oil prices led to a series of downgrades in sovereign ratings.

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