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Eastern Economic Forum

Russian economy is in state of 'overcooling' — Gref

Herman Gref added that Sberbank also intends to provide all possible assistance to marketplaces and sellers affected by drone attacks

VLADIVOSTOK, September 3. /TASS/. The Russian economy is in a state of "overcooling," and it is time to shift toward policies aimed at supporting and stimulating investment growth, Sberbank CEO Herman Gref told reporters on the sidelines of the Eastern Economic Forum (EEF).

"Yes, that's what we believe. As of today, I think it's already obvious. There is always some wordplay involved here. The question is what meaning we attach to these terms. The Central Bank speaks of a gradual slowdown, while we call the situation cooling, or already overcooling. As of today, the figures speak for themselves," he said in response to a question.

Gref noted that all these factors indicate that it is time to shift toward policies aimed at supporting and stimulating investment growth. "Businesses need help," he stressed.

Sberbank also intends to provide all possible assistance to marketplaces and sellers affected by drone attacks, Gref added.

The Eastern Economic Forum is being held on September 1-4 in Vladivostok on the campus of Far Eastern Federal University. The forum is organized by the Roscongress Foundation with the support of the Russian government. TASS is the general information partner.

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Eastern Economic Forum

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