Sunday, September 13, 2009

Loss of the world economy from the struggle with the crisis amounted to almost 11 trillion dollars

The world's biggest economy spent on fighting the crisis more than 10 trillion dollars, with each taxpayer had about 10 thousand dollars to such a view, drawing on data from the International Monetary Fund (IMF) economists came to Bi-Bi-Si.

Large-scale anti-crisis program adopted in the U.S. and Britain. Thus, the U.S. spent to fight the recession of about 3.6 trillion dollars, or a quarter of its annual GDP. Britain sent an anti-crisis measures approximately 2.4 trillion dollars, or 94% of its annual GDP.

At the same time in the United States each taxpayer had about 10 thousand dollars, and British citizens have to "fork out" for 30 thousand dollars each. Of course, much of this money is not provided in the form of cash, but in the form of guarantees to the banking sector. However, these figures could not have better characterize the depth of the crisis, which turned out to be the most ambitious since the Great Depression of the 30s years. XX century.

Over the rest suffered from the crisis of the world financial sector, which amounted to losses of $ 4 trillion, most interesting is that more than half of these losses occurred in several large banks such as Citigroup and RBS. Nearly 1.8 trillion dollars have been written off by banks in connection with investment in securities backed by high-risk mortgage subprime, which is just and has caused the current recession.

According to most experts, leading international banks will require more than one year to fully recover from the crisis and return to the same profits. It also remains unclear when the global credit market is restored: it is possible that this will require more than one year and not even one decade.

We should not forget about the fact that such large-scale anti-crisis program, in most cases lead to a sharp increase in the budget deficit. For example, the U.S. budget deficit up to 2009 will total about 1.6 trillion dollars, and in 2010-2019. figure could reach 9 trillion dollars - to $ 2 trillion more than previously planned. In this country's foreign debt within a few months may exceed the mark of 12.1 trillion dollars

Similarly, things are in Britain: it is expected that in the next five years, the country's national debt will double and will amount to 16.51 trillion dollars Thus, only the interest only on the British debt for 2014 will exceed the budget of the education system of the kingdom.

Finally, it is worth noting that until recently, forecasts of leading politicians and experts on the magnitude of the crisis were rather optimistic. For example, the IMF earlier in the year indicated that the loss of the world economy from the crisis could be more than 2.2 trillion dollars, and in mid-April last year, the IMF's economists thought that the losses from the global financial crisis would amount to "only" 945 billion dollars

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