VLADIVOSTOK: German Gref, CEO of Russia’s dominant lender Sberbank, said on Thursday that the country’s economy had reached technical “stagnation” and said he hoped the central bank would not allow it to plunge into recession.
Russia’s Sberbank posts strong Q3 profits
He also said that the expected rate cuts to 14% by year-end from the current 18% were not enough to revive the economy.
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