Gref: Russia will cope with the coronavirus after recovery is better than Europe or the United States

the Russian economy will cope with the recovery of coronavirus better than European or American, said the head of Sberbank German Gref during a videoconference with Russian President Vladimir Putin.

the Index of openness of the economy in the regions of Russia – the lifting of restrictions — increased from 28 percent at the end of April to 89.6 percent from dekorativnogo level, estimated by the Ministry of economic development of Russia on the results of daily monitoring.

“We expect that the Russian economy as a whole will cope better than European than American,” — said Gref.

Pandemic that began in China, quickly reached Europe, the city which was leading to losses from the coronavirus, then the scale of the pandemic became the largest in the United States. This caused considerable damage to the EU and the world’s largest economy: the US unemployment rate jumped in April to 14.7% and was the worst figure since the Second world war.

Gref noted the efforts of the government and the Central Bank: “Very accurate measures were taken by the Central Bank during the period of this very difficult situation they took the decision to reduce the refinancing rate, which, in General, resulted in a decrease in rates in the credit market, it very much helped the restoration of all businesses.”

the Regulator time took the program and support for banks.

“In General, all this was done exactly on time, helped us overcome problems,” — said Gref.

the Recovery in June was better than the expectations of the savings Bank. According to Gref, remained idle only 10% of terminals small business, and at the peak of idle days in April was only 25% of the terminals.

“Week to week we are seeing is a fairly rapid recovery. On a number of subjects of the Russian Federation almost 100% recovery has occurred,” — said Gref.

He stressed that the March, April, may became one of the most difficult in the whole period slavecomes in a jar, but now the situation is improving rapidly.

the National economic recovery plan focus on GDP growth not less than 2.5% by the end of 2021, the reduction of unemployment to 5% and the increase in real incomes. The plan was discussed on June 2 during the online meeting, Prime Minister Mikhail mishustina with Russian President Vladimir Putin.