Moody's: World economy will not return to pre-crisis level in next five years

Baku. 18 August. REPORT.AZ/ Moody's stumble at the return of global economic growth to pre-crisis level in next five years, Report informs citing RBK.

According to experts of international rating agency Moody's, the growth of the world economy in the near future will not return to the pre-crisis level.Bloomberg presents factors that slow down economic growth.

According to Moody's analysts, the economy of the leading countries of the world, members of the G20, will not return to 2008 levels over the next five years. Aggregate output growth in the group, which includes the 19 most economically developed countries and the countries of the eurozone, will be from 2015 to 2019 an average of 3% per year.This is about 0.5 percentage points lower than the growth rates of their economies from 1997 to 2007.

Factors constraining the growth of the global economy, according to Moody's are protracted slowdown in productivity growth, the fall of China's economy, unfavorable demographic trends and a slowdown in revenue from trade.The agency this year has downgraded growth forecast for the US economy, pointing to a slower than expected pace of recovery in the second quarter.At the same time economic growth forecast of the G20 in 2015 remained unchanged at 2.7%.

Moody's experts believe that US economic recovery, and in lesser degree the euro zone and Japan will be offset by the continued slowdown in China, low growth or even recession in Latin America and more stabilization rather than rapid recovery in Russia.