Sberbank CEO Highlights Need for New Economic Growth Model in Russia
IN BRIEF: Gref’s statements on drivers of economic growth and intellectual resources
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At the St. Petersburg International Economic Forum, Sberbank CEO German Gref emphasized that traditional drivers of Russia's economic growth are nearing exhaustion, necessitating a new model. He highlighted the importance of small businesses and affirmed Russia's strong intellectual resources for technological development, particularly in artificial intelligence.
- 01German Gref stated that traditional economic growth drivers in Russia are nearing exhaustion, requiring a new growth model.
- 02He emphasized the critical role of small businesses as the foundation of the economy and their need for protection from administrative barriers.
- 03Gref noted that Russia has all necessary intellectual resources for technological development, particularly in artificial intelligence.
- 04He claimed that Russia ranks among the top five countries in AI, with national models and teams capable of developing foundational technologies.
- 05The efficiency of the economy is directly linked to the efficiency of the state, according to Gref.
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During the St. Petersburg International Economic Forum (SPIEF-2026), Sberbank CEO German Gref addressed the pressing need for a new economic growth model in Russia, stating that traditional growth drivers are nearing exhaustion. He pointed out that unemployment is at historic lows and capacity utilization is high, yet labor productivity is insufficient to sustain growth. Gref emphasized the importance of small businesses as the backbone of the economy, advocating for better protection against administrative barriers. He expressed optimism about Russia's potential for technological advancement, asserting that the country possesses all necessary intellectual resources. Gref highlighted that Russia ranks among the top five nations in artificial intelligence, with strong national models and competent teams ready to bridge the technological gap with other countries. He concluded that the efficiency of the economy is crucial for the overall efficiency of the state, stressing the need for a supportive environment for small enterprises.
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The shift towards a new economic growth model could significantly affect small businesses and overall economic efficiency in Russia.
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