Photo: Vitaly Belousov / RIA Novosti
The head of Sberbank German Gref in an interview with TASS said that by the end of the year, provided that the situation of coronavirus is not worsen, we can expect a sharp rise in oil prices and the ruble exchange rate.
According to Gref, in this assessment he focused on the prediction of one of the old and experienced analysts Henry Groube, which anticipates in six months the barrel at 60-62 to the dollar. In the case of the ruble, which depends on oil prices, it means “plus or minus 60 to the dollar,” said the head of Sberbank.
At the same time, he noted that we are talking only about trends, but how is really the situation in Russia and in the world, no one can say.
Also during the interview, Gref estimated the fall of Russia’s GDP by the end of 2020 at 4.2-4.5 percent. This is much better than the 6-9 percent that was expected earlier, however, the dynamics may degrade the second wave of the coronavirus if the country will not escape.
The situation he likened to the 1998 default, when the newly launched activity, the new government had to contend with an unprecedented crisis.
See the full interview at Okko.
Video, photo All from Russia.