The fall in the RTS index, the main indicator of the Russian stock market, may be a sign of an impending economic recession, says Andrey Nechaev, Doctor of Economics, Professor, ex-Minister of Economy of the Russian Federation.
“There is such a theory, which has been repeatedly confirmed by facts: the dynamics of the stock market sets the economic dynamics for six months. In the last couple of weeks, the RTS index has dropped from 1900 to 1600 points. This means, if you believe this theory, and you can believe it, that somewhere in six months we will start an economic recession. It seems to me that there are more factors for him than for a rapid economic recovery, “Nechaev said during a round table at the Rosbalt news agency.
The economist recalled that recently, First Deputy Prime Minister Andrei Belousov predicted the third wave of the global economic crisis in 2022. “I see no reason why, say, the European, American or Chinese economies should go into decline. But as for the third wave of inflation, especially in relation to Russia, here I am inclined to believe the Deputy Prime Minister, “Nechaev noted.
Source: Rosbalt
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