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Russia's Sberbank sees some signs of economy stabilization

August 25, 12:40 UTC+3 MOSCOW
The head of sberbank says positive dynamics of Russia's GDP may be observed in the second half of 2016
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MOSCOW, 25 August. / TASS /. Russia’s largest savings bank Sberbank sees some signs of stabilization of the national economy amid rising oil prices and the strengthening of the ruble, head of Sberbank German Gref said as quoted by the bank’s press service.

This makes it possible to predict the positive dynamics of Russia's GDP in the second half of 2016, he added.

"Despite the negative growth rate of the Russian economy in the first half of 2016, we see some signs of stabilization in conditions of growing oil prices and the strengthening of the ruble, which allows us to predict the positive dynamics of the GDP in the second half 2016," he said.

According to the Economic Development Ministry, Russia's GDP declined by 0.9% year-on-year in the first half of 2016.

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