The head of Sberbank, German Gref, at a business breakfast at the SPIEF, said that the Russian economy faced four serious problems at once, which he called "horsemen of the apocalypse." Details are provided by <url>.
These include a high interest rate, a growing tax burden, a strong ruble and administrative barriers. According to Gref, these factors, combined with falling demand, create an extremely difficult situation for economic development.
Gref also commented on the record low unemployment rate in the country. He recognized this factor as significant, but noted that it needs to be "substantially cleaned up" from one-time specific conditions. When discussing the "cooling" of the economy, according to the head of Sberbank, it is also necessary to take into account GDP growth rates and investment activity. And ignoring at least one of the system calls can lead to even more serious consequences.
EADaily previously also informed that Gref called the foundation of the Russian economy — these are real "paintings".
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