Russia’s Sberbank CEO says expects GDP to rise in Jul–Dec

MOSCOW, Aug 25 (PRIME) -- The gross domestic product (GDP) will increase in July–December, CEO of Russia’s biggest lender Sberbank German Gref said in a comment to a financial report of the bank published on Thursday.

“Although the Russian economy’s negative growth rates in the first half of 2016 we see some signs of stabilization as oil prices are rising and the ruble is strengthening, which allows us to forecast positive GDP dynamics in the second half of 2016,” Gref said.

But lending is not expected to increase in 2016 because of falling inflation and high rates, he said.

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