MOSCOW, December 20. /TASS/. The global economy is expected to gear down dramatically during the next six months, Chief Economist of VEB.RF Andrey Klepach told TASS in an interview.

"According to the forecast of the VEB Institute, the base case, the global economic growth will decelerate to 2.5% in 2022 and 1.8% in 2023, compared to 6% in 2021. At the same time, risks of lower economic growth indicators than provided in the base case prevail. If the situation worsens against the base case and crisis development risks materialize - the worst-case scenario - the economic growth in the largest countries may slow down dramatically and the GDP growth rate will drop to 1.3% in 2023. A dramatic deceleration of economic growth with the further decline is expected during six coming months," Klepach said.

Economies of China and India will continue growing at the same time, which will save the world from the recession, the economist noted.

"The probability of global recession occurrence is low. Despite high recession risks in certain key Western nations, economies of China and India will continue growing with high probability. No forecasts are now in place that stipulate their decline," Klepach said.