The Russian economy in 2022 rolled in actually 10 years ago. A return to the level of 2021 can take a whole decade, said the head of the Russian Sberbank German Gref during the traditional “business breakfast” at the St. Petersburg International Economic Forum (PMEF). Gref’s words are given by RBC.
“If you do nothing, then the return of the Russian economy to the level of 2021 can take about ten years,” said the head of Sberbank, while he did not name the reasons for the rollback of the Rolssian economy.
The situation in the economy, as well as the level of pressure on Russia by world states, Gref called “paradoxical, but not so dramatic.” The sanctions effect, in his opinion, was not as tough as expected. Restrictions on the part of foreign countries even led to a record strengthening of the ruble, which softened inflation, followed by a key rate and resumed lending.
“Well, of course, a huge surplus of the trade balance, a sharp decrease in demand for currency, a sharp decrease in imported flows led to the reinforcement of the ruble – I have never seen such a situation: when the currency, in fact, in Russia, no one needs it,” – Gref said.