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Trends of the World Economy Development and Prospects of Post-Crisis Recovery

Alexey S. Evseev – Younger Researcher of the Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Farida Ya. Iskhakova – Younger Researcher of the Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Pavel V. Trunin – Head of Center for Macroeconomics and Finance of the Gaidar Institute; Director of Center for Сentral Banks Studies of the Russian Presidential Academy of National Economy and Public Administration, Doctor of Economic Sciences (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Q3 2020 demonstrated higher than expected economic activity recovery rate in many countries. This growth has only partially offset a deep recession seen in Q2. Output stays at markedly lower pre-crisis levels in the majority of countries. «Second wave» of the pandemic raises uncertainty regarding prospects of further economic recovery. According to the latest assessments, expected global GDP decrease for 2020 has been revised from 5.0 to 4.5% with 5% growth in 2021. New quarantine restrictions put in place in autumn pose risks for a repeated significant recession in economic activity and unemployment growth and as a result 2021 projects can be revised downwards.

Key words: world economy, post-crisis recovery of world economy, «second wave» of pandemic.