RU Economy will shrink for 10 consecutive years - Sberbank

[Dennis 3,181]

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 June 25 by Dennis

[PartySick 105,478]

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

[Dennis 3,181]

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.

[Pennywise 27,985]

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 

[WheresMy911Alice 20,295]

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 

What I thought exactly when I saw the title 

[Economy 40,533]

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

[SadBoi808 985]

Not me reading the title and thinking Ru as in RU Paul 

[Luc 4,718]

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

[TEANUS 7,756]

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