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3/26, 7:58 PM (Source: TeleTrader)
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Putin: Pandemic bigger worry than financial crisis

The ongoing coronavirus pandemic will be a more serious problem for the world than the financial crisis that took place in 2008-2009, Russian President Vladimir Putin said at the G20 video-summit on Thursday.

The pandemic will create more "widespread shocks" than the last global financial crisis, Putin said, adding that the situation is aggravated by sanctions and trade wars.

"In our opinion, the key risk is long-term unemployment, the peak of which in any scenario will exceed the level of 2009," Putin said, adding that the economic crisis due to the coronavirus pandemic will leave long term marks on global development.

Breaking the News / SR