2021 World Economy Roller Coaster and Expectations for Growth in 2022

Excellent, Global users!

2021 has been a real roller coaster ride for the economy and the markets.

As the year began, the economy continued to recover, and the markets continued to rise, not much different from the end of 2021. Everything looked absolutely great, and we were expecting a good recovery, discussing when interest rates would start to rise and when the exit strategy from the easing policy would begin. We pledged to defend the euro at any cost. However, as spring arrived, the euro crisis erupted, and signs of a slowdown in the world economy emerged, and all that faded away. The conversation shifted to how the world economy would recover and what additional stimulus measures the authorities could take. Until financial conditions improve, we will continue to look for ways to reduce funding pressures in key markets. As the end of the year approaches, the recovery has started to pick up again, and of course, with more quantitative easing, the market is reviving. Thus, we're ending the year in much the same way we began it, experiencing a rally in markets and a recovery in the world economy. Eurozone member states will take determined and coordinated action.

In 2022, austerity will become even more prominent, and family will be one of the main forces shaping global growth. The tightening of fiscal policy will primarily occur in Europe, particularly in the eurozone peripheral countries, through accelerated fiscal tightening plans. This will create headwinds for growth in 2022. We are now thinking more about 2022. We will always be prepared for the current situations and introduce even better ICA products and fund products to our customers. Thank you.