Gref said about the passage of Russian economy “deep hole”

The head of Sberbank German Gref said that the Russian economy has slipped into a deep hole”. He stated this at a press conference on Friday at the annual meeting of shareholders of the savings Bank, the correspondent .

“2014 was the hardest, 2015 — heavy, in 2016 will be easier,” — said Gref. “All, of course, depend on the forecast of oil prices. According to our forecast, the average price of oil in 2016 will be about $40 per barrel, GDP will fall by 0.7%,” — said the head of Sberbank. “If nothing extraordinary happens in the next year we see a slight growth of the economy, insufficient, of course, but nevertheless a deep hole we slipped,” said Gref.

A similar point of view 20 may expressed also the Minister of economic development of Russia Alexei Ulyukayev, who said that the Russian economy is not in recession for six months.

That the bottom of the economic crisis can be considered passed, a week ago, said Russian President Vladimir Putin. According to him, the peak was passed back in 2015 and this contributed to anti-crisis measures of the government.

However, the day after Putin’s statement, the former Minister of Finance Alexei Kudrin noted that the country’s economy without a strong structural reform will remain at the “bottom” and will not grow. “Because the old economic model is worked out, the new is not yet formed, even after the “bottom”, we will stay at this “bottom”, — said Kudrin.