Gref called the transition to floating the ruble is the salvation for the economy


Moscow. October 22. The head of Sberbank German Gref believes that the transition to the floating ruble exchange rate at the end of last year saved the real economy.

If the Bank of Russia “has repeated the mistakes of 2008”, was held in the gradual weakening of the ruble under control of the controller, this would help banks, but “killed” the real economy, Gref said, speaking at an investor Day in London on Thursday.

He noted the “courage” of the Chairman of the CBR, Elvira Nabiullina, who was able to rapidly enter the floating rate.

Also, the head of Sberbank noted that due to the devaluation in Russia now the cost of labor is cheaper than in China.