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| Caucasus/Russia/Central Asia |
| Russian economy will return to 2021 levels in a decade |
| 2022-06-21 |
| [Moscow Times] The Russian economy will return to 2021 levels in a decade unless the country takes reform measures amid unprecedented Western sanctions over Russia’s war in Ukraine, the head of the country’s largest lender Sberbank said Friday. "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. Gref’s comments came a day after the Russian Central Bank chairwoman dampened hopes for a foreseeable return to pre-invasion indicators. "External conditions have changed for a long time indeed, if not forever," Central Bank Governor Elvira Nabiullina said at a SPIEF event Thursday. "It’s obvious to everyone that it won’t be as it was before." Gref said 56% of Russian exports and 51% of imports accounted for countries that have imposed sanctions against the country. "This is a threat to 15% of the country’s GDP." |
| Posted by:Matt |
| #1 But sanctions were only hurting us? All the trolls said that. |
| Posted by: Frank G 2022-06-21 11:40 |