Crisis looms over global economy — Russian Finance Ministry

Global economy is on the brink of another global crisis, according to Russian Deputy Finance Minister Sergei Storchak.

The deputy minister noted that the world is currently going through financial uncertainty. However, at a closer look, a more precise assessment would be that a new global crisis is about to hit, TASS reports citing the government official.

Sergei Storchak added that debts in the countries across the world are growing, at a breakneck speed. Therefore, according to the deputy minister, development institutions must take looming challenges into account.

Sergei Storchak refused to comment the economic situation in Russia stressing that there is already plenty of speculation in the media.

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