The Russian economy will need at least 10 years to get rid of oil dependence. This was stated by the head of Sberbank German Gref said at the Bank organized the conference, according to video News Service. According to him, to create the digital business economy with a volume of at least half of the existing in the short term is impossible.
“We have a very large amount of today’s oil and gas GDP. And to create the economy, relatively speaking, in half of the existing digital businesses to citrovita including traditional forms of business, of course, it is not a quick period of time. I think it’s not a 5 or 10 years,” he said.
In early September, Gref predicted that within the next five years the traditional banking system in the world will be destroyed due to the penetration of new technologies.
In may, the President of Sberbank said that Russia’s economy has managed “to slip deep hole” and 2016 will be easier than the previous one. At the same time the savings Bank has sharply improved the Outlook for GDP growth from minus 2.2 to 0.7 percent.
Gref also said that the economy will return to growth in oil prices of $ 45 per barrel. Thus, according to his forecast, the price of a barrel of oil in 2020 could reach $ 60 dollars, and by 2024, growth is possible to $ 80.
