The article is based on the author's report “On the root causes of the growing chaos and measures to overcome the economic crisis”*. The aim of the article is to analyze the problems of the modern financial market system in the world and in Russia and to give practical recommendations on how to overcome them. The framework of the study was the statistical data of foreign and Russian agencies and financial organizations. The article employed general scientific methods of cognition: analysis, synthesis, system approach, and comparison. As a result, the paper provides a complete picture of the systemic economic crisis unfolding against the backdrop of the coronavirus pandemic in the world and in Russia. The author indicates its causes and consequences. The work presents concrete recommendations to overcome the crisis. The author concludes that even in the worst-case scenarios of the global crisis, Russia will be able to improve its position in the world economy by pursuing policies to its own advantage. © Glaz'ev S. Yu., 2020