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Russia has passed the acute part of crisis, but not crisis itself — Sberbank CEO

June 19, 2015, 18:01 UTC+3 ST.PETERSBURG
The difficult economic situation, in which we are in right now, is not over yet. It will continue throughout this year and part of next, Sberbank CEO German Gref said
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© TASS/Artiom Geodakyan

ST.PETERSBURG, June 19. / TASS / The difficult situation in Russia is not over and will continue in 2016, said Sberbank CEO German Gref in an interview with RBC television at the St. Petersburg International Economic Forum on Friday.

"The difficult economic situation, in which we are in right now, is not over yet. It will continue throughout this year and part of next. Most likely, there won't be such a sharp drop in production and GDP as before. As I said some time ago, the acute phase of the crisis has passed, but that does not mean that we have passed the crisis itself.

According to Gref, in order to achieve a sustainable growth path, "a lot of work is up head."

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