Bill Gates said two reasons for a possible global economic decline

Increasing interest rates around the world can lead to a global slowdown in the economy, says entrepreneur and philanthropist Bill Gates. He called the reason for the possible economic decline in Ukraine, as well as the consequences of the Pandemia of Coronavirus, Kommersant reports.

According to Gates, the situation in Ukraine has already led to a sharp increase in raw materials, as well as to “some problems with supply chains.” Against this background, many countries, including the USA, Great Britain and India, began to increase interest rates to try to reduce inflation. This “will ultimately lead to a slowdown in economic growth,” Gates believes. “I’m afraid that the“ bears ”(the exchange market participants who sell securities before the market collapse – ed.) There is a rather significant argument that bothers me very much,” the businessman quotes Bloomberg.