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Global economy rebounds too slowly from 2008 crisis — Medvedev

Russian Prime Minister Dmitry Medvedev noted that the cumulative government debt in the world has increased significantly and developing markets have become more vulnerable

Russian Prime Minister Dmitry Medvedev Yekaterina Shtukina/Press Office of the Government of the Russian Federation/TASS

Russian Prime Minister Dmitry Medvedev

© Yekaterina Shtukina/Press Office of the Government of the Russian Federation/TASS

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PORT MORESBY, November 17. /TASS/. Global economy has recovered from the 2008 crisis, but the process was too slow, Russian Prime Minister Dmitry Medvedev said at the summit of the Asia-Pacific Economic Cooperation (APEC) in Port Moresby.

"On the one hand, global economy generally recovered after the 2008 crisis. Many systemic errors which were acknowledged back then and which led to crisis, were corrected. Changes occurred in financial markets and in management of government debt. We all did this, and Russia, too. Large banks reconsidered their policies on highly risky assets," Medvedev said.

"On the other hand, economy rebounds too slowly and unstably. Unfortunately, we look worse than 10 years ago in certain spheres," he said. The cumulative government debt in the world has increased significantly, developing markets have become more vulnerable, monetary policy tightened, and many countries failed to reach the projected rates of GDP growth, he concluded.

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