Home Business Gref announced 10 years of economic recovery, “if nothing is done”

Gref announced 10 years of economic recovery, “if nothing is done”

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globallookpress/Zamir Usmanov
globallookpress/Zamir Usmanov

The Russian economy has demonstrated unusual flexibility, but the country needs anti-crisis measures, says German Gref, head of Sberbank, quoted by TASS.

According to him, “restructuring and adjustment” to the new conditions is taking place at a faster pace than he expected. This is due to the fact that the Russian private sector has gained a wealth of experience over the past years.

“If nothing is done in the current situation, then approximately such a consensual trajectory for the Russian economy, returning it to the level of 2021, may take about 10 years,” Gref emphasized at a Sberbank business breakfast at SPIEF.

Sanction conditions for Russian entrepreneurship may last forever. This assumption was previously made by the head of the Bank of Russia Elvira Nabiullina.

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