The entrepreneur explained what the upcoming crisis can be compared with.
Speaking at the Krasnoyarsk Economic Forum, the founder of RUSAL, Russian billionaire Oleg Deripaska predicted what the economic future of Russia will be in the next three years.
According to him, due to the beginning of Russia’s military special operation in Ukraine, the first one has a rather gloomy future.
According to the entrepreneur, such challenges have not happened in modern Russia before.
Deripaska said that at the moment the West has already lowered the Iron Curtain and for three years the country is waiting for the most severe crisis.
“Multiply the crisis of 1998 by at least three,” Interfax quotes him as saying.
According to the oligarch, in three weeks it will be clear how the Russian banking system will respond to the challenge, so it is important to support the Russians and reduce the financial pressure that has fallen on them.
Small and medium-sized businesses need no less support, it also needs to be financed, the expert believes.
“Otherwise we will fly into minus 20% of GDP,” Deripaska explained.
He described two steps that need to be done to normalize the situation.
First of all, we need peace, then an honest discussion of where, how and under what conditions we live, who commands what and what risks are borne.
Deripaska said that he is an opponent of tough financial pressure on Russians who are not to blame for anything.
Recall that economic instability arose after the introduction of anti-Russian sanctions by the West, which led to the fall of the ruble, the outflow of investors from the country.
According to Topnews, the dollar and euro prices have reached historic highs, and the Russian stock market is in a difficult situation.