ST. PETERSBURG, June 5. /TASS/. Traditional, or inertial, drivers of Russia’s economic growth are nearing exhaustion, making a new economic growth model necessary, Sberbank CEO German Gref said at Sber’s business breakfast held as part of the St. Petersburg International Economic Forum (SPIEF-2026).
He also noted that Russia possesses all the intellectual resources necessary to support its own technological development.
TASS has compiled the key statements made by the Sberbank chief.
Traditional, or inertial, drivers of Russia’s economic growth are nearing exhaustion, making a new growth model necessary: "Unemployment remains at historic lows, while capacity utilization is also at a high level, and labor productivity is not yet growing at a pace sufficient to offset these factors. Traditional, or inertial, drivers of economic growth are now approaching exhaustion. This raises the question of what the future economic growth model could be and what the government can and should do for this model to begin functioning."
Foundations of the economy
