Russian economy has fallen into stagnation: Gref stated a drop to zero.

German Gref on the technical stagnation of the Russian economy

According to inkorr.com: Chairman of Sberbank German Gref stated that the Russian economy experienced 'technical stagnation' in the second quarter of 2025. He announced this during his speech at the Eastern Economic Forum in Vladivostok.

'The second quarter can actually be considered as technical stagnation. July and August show quite obvious symptoms that we are approaching zero marks,' Gref noted.

Gref emphasized that one of the main issues is the high key interest rate. He predicts that by the end of the year it will be 14%, but this is not enough to revive the economy.

'The rate that can invigorate the economy should be at the level of 12% and below,' Gref added.

Let us remind that stagnation is characterized by prolonged economic stagnation, low GDP growth rates, high unemployment, falling wages, and a decline in the standard of living of the population.

Thus, during his speech at the economic forum, German Gref outlined the problems facing the Russian economy and emphasized the need to lower the key interest rate to activate economic activity. In conditions of technical stagnation, it is clear that significant changes in economic policy and measures aimed at supporting businesses and consumers are needed to overcome this state.