Gref announced the impossibility of quickly rebuilding the Russian economy
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“The Russian economy is generally very strongly integrated into the world economy, and it is impossible and unnecessary to rebuild it in a short time,” he said, commenting on scenarios for the development of the Russian economy.
Gref noted government measures to stimulate the production of local suppliers of goods and services. According to him, if this policy continues, then along with the “turn of exports from the West to the East”, domestic production of both goods and services will develop in Russia.
The head of Sberbank acknowledged that before the infrastructural restructuring, primarily export-import operations, “it will not be easy.” At the same time, this “painful process” is progressing “quickly enough,” Gref noted. In his opinion, the withdrawal of Western brands from Russia will become an “additional incentive” for the development of Russian companies.
Gref also predicted Russia’s GDP growth by “about 2%.” He expects that within two years the Russian economy will recover “to the previous volumes and indicators of its development.”
Against the backdrop of the start of Russia’s special operation in Ukraine, Western countries imposed large-scale sanctions against the Russian Federation, which affected many sectors of the economy, including energy, the high-tech sector, aviation, the banking industry, the mining industry, the automotive industry, etc. In this regard, the Russian authorities announced the need structural adjustment of the economy.
In May 2022, then Chairman of the Accounts Chamber Alexei Kudrin expressed the opinion that the economy of the Russian Federation will be rebuilt in one and a half to two years. In September, Russian President Vladimir Putin instructed create the necessary conditions for the continuation of this process. He explained that this includes the implementation of large technological projects, the growth of economic activity, the development of infrastructure in the Russian regions and the creation of new jobs.
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