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RU Economy will shrink for 10 consecutive years - Sberbank


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Dennis

Sberbank's CEO (Russia's largest bank) predicts that as a result of the sanctions and the current situation, Russian economy will take 10 years to see positive GDP growth again unless reforms are implement.

https://www.themoscowtimes.com/2022/06/17/russian-economy-faces-10-years-of-recession-without-reforms-sberbank-ceo-a78031
 

“If nothing is done in the current situation, then… the return of Russia’s economy to the level of 2021 could take about 10 years,” Sberbank CEO Herman Gref said.

Under its so-called “inertia” scenario, Sberbank forecasts Russia’s GDP to fall by 7% in 2022 and 10.3% in 2023 compared with 2021, when it grew by 4.7% to $1.77 trillion.

The decline would slide back into the single digits in the following years and reach -0.1% by 2030, according to a slide of Sberbank’s forecast at the St. Petersburg International Economic Forum (SPIEF), Russia’s annual showcase event for investors.

 

Edited by Dennis
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  • Dennis changed the title to RU Economy will shrink for 10 consecutive years - Sberbank
PartySick

Ugh...can this whole stupid conflict be done already

I'd do anything to numb the flame
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Dennis
Just now, PartySick said:

Ugh...can this whole stupid conflict be done already

Putin gambled his entire legacy on this. I believe this is the big mistake that will get people to turn against him. Negative GDP growth for 10 years is just insane.

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Pennywise

Well, it was gonna happen sooner or later, I mean, of course Ru doesn't have THAT much money to keep the international drag race franchises going :bradley:

YOUR GOD IS NOT HERE MICHAEL NOR WILL HE EVER BE
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WheresMy911Alice
1 hour ago, Pennywise said:

Well, it was gonna happen sooner or later, I mean, of course Ru doesn't have THAT much money to keep the international drag race franchises going :bradley:

What I thought exactly when I saw the title :sharon:

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Economy

U reap what u sow...

 

And right now Oil went to a big premium when war started. When this corrects they won't even have that

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Luc

Russia deserves worse. Ukraine's GDP in 2020 was still lower than it was in 2008.

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TEANUS

And the leader is doing it to his own people, this is all on him

British social ladies with upturned pinkies, glasses clinking // xoxoTEANUS
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