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Global economy’s condition improving — Russian Deputy PM

The process is largely driven by increasing contribution of developing countries, Alexey Overchuk said

MOSCOW, April 19. /TASS/. Russia notes improvement of the condition of the global economy largely owing to the contribution of developing economies, Deputy Prime Minister Alexey Overchuk said at the 109th meeting of the Development Committee of the International Monetary Fund and the World Bank.

"We take note of improvement of global economy largely driven by increasing contributions of developing economies. The nations of the Global South are advancing and deepening their cooperation and trade relationships, paving the way for a more equitable economic framework," Overchuk said.

Advanced economies at the same time "are experiencing a worsening economic climate, largely due to politicizing of economic agenda, inadequate economic decisions including interruption of reliable energy supply chains and emphasis on military spending," he added.