Gref urged not to pour money “blazing fire” of crisis

German Gref

Photo: Maksim Blinov / RIA Novosti

You can’t put “blazing fire” of crisis money as it is offered by “pseudo-scientists”, said Herman Gref. In his opinion, no other means to exit the crisis “except to finally engage in structural reforms”

President and Chairman of the Board of Sberbank German Gref urged not to pour money into the economy as it is offered by “pseudoscientists”. He stated this on the Exchange forum in Moscow, reports RBC.

“Looking at the state of our economy, there is no faith in oil that the price will bounce again two times and we once again are lucky. All came to the conclusion that the crisis in which we find ourselves, not cyclical, but structural and to fight it we need a clear set of measures. It is impossible to fill with money, as some pseudo-scientists, otherwise call them can not, for the first time are encouraged to fill this blazing fire money. And the fire will be even more intense! And today no other means but to finally engage in structural reforms”, — said Gref.

He also stressed that to increase the rate of growth of the Russian economy is critically important decline in the share of the public sector. “When over 70% of the economy is the public sector, talk about competition and the efficient structure of the economy is impossible. Need privatization… Privatization is a matter of national security,” said Gref, noting that privatization should concern both small and large enterprises (quoted by “Interfax”).

Among other objectives for the coming years, the head of Sberbank, called the reduction of government regulation of the implementation of project management methods, as well as the diversification of the economy.

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