Sberbank says Russian economy is stagnating, warns of recession if rates stay high
ReutersSep 4, 2025 3:07 AM
VLADIVOSTOK, Russia, Sept 4 (Reuters) - German Gref, CEO of Russia's dominant lender Sberbank SBER.MM, 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.
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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