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Sberbank head predicts exhaustion of oil and gas reserves of Russia to 2030

04 October 2016 08:27 (UTC +04:00)

Baku – APA-Economics. The Russian authorities need to prepare the economy to the end of the century, oil and gas,” warned the head of Sberbank German Gref. According to the former Minister of economic development of Russia, the domestic oil and gas reserves, which became the “monoproducts” Russia can be exhausted after six decades.

“We are talking about when we have this monoproduct can end. In my opinion, this is about 2028-2032 years, when, in my opinion — not a fact I’m right — all the feelings, all the trends that we see today will not be a repeat of this supershareware cycle. Need to prepare for it,” said Gref in the program “Pozner” (quoted by TASS).

The head of Sberbank warned that an exit from one resource the state of the economy is very painful, but can help to improve the quality of economic growth.

“We should speak about finding new speakers that we need to diversify the economy. This is now more and more people think. Experts say this long time ago, and I think the people in power today are already quite well aware of this situation,” — said Gref.

In the spring of 2016, the Minister of natural resources Sergey Donskoy said that at the current production volumes alone proved oil reserves of Russia will last until 2044.