Deripaska named the period for the recovery of the Russian

RUSSIA in eight or nine years will be able to restore the economy without even adapting to current conditions, and if the state supports competition and the debt market, then the recovery period will be reduced by another half. This opinion was expressed by businessman, founder of UC Rusal Oleg Deripaska in a conversation with reporters during an event at Moscow State University, RBC correspondent reports.

“I was surprised that Russia turned out to be much more of a market economy than even I imagined it to be. Neither state capitalism nor the criminalization of business could break it. And the successes that the economy is now showing make it possible to say that if the state does not adapt to this, then Russia will restore a much more diversified economy in eight to nine years. If the state is able to adapt to maintain a market economy, maintain competitiveness, create a debt market, then this will happen in four years,” he said.

According to Deripaska, the development of a market economy is important, because now "whatever [key rate] you set, there are no market instruments in the country that will implement it." At the same time, the businessman again criticized the policy of the Central Bank, recalling the "brooches of Nabiullina." “For two years now, we have ... how to call it ...“ the policy of abandonment, ”he ironically assessed her.

Sanctions imposed against Russia in a year and a half can begin to work in the opposite direction, the billionaire believes. “We understand that in a year and a half the sanctions will not only be meaningless, but will begin to work in the opposite direction. When, due to political decisions, they cannot be abandoned, they will greatly interfere with the country that introduced them to move on, ”he explained.

At the same time, Deripaska criticized the growing defense spending in the world, including in Russia, and warned that the world now risks losing many of the achievements of the past 30 years. “Do you think this is a natural loss? These are people promoting their specific interests. And I see the pace at which orders for the defense complex are growing around the world, and I suspect that in Russia this can also be beneficial to someone ... These are hellish trillions - and I estimate for myself that up to $ 4 trillion annually the state will spend the next few years [on military needs]. Even if half was spent on renewable sources, the development of new modern nuclear energy, epidemics ... It confuses me how quickly we managed to abandon everything that was achieved in the 1990s, overcoming the suffering of the Cold War, then we abandoned Total, what they achieved in the 2000s. And now we are calmly watching and waiting for victory. What wins? Who wins? This, of course, is a colossal mistake,” he stated.

In April, analysts at S&P Global Market Intelligence suggested that it would take Russia a decade to recover the economy to 2021 levels amid Western sanctions. The fall in Russia's GDP in 2022 will be 11.1%, follows from the forecast. By 2023, Russia will be able to slow down the decline in GDP to 1.9%, growth, according to S&P Global Market Intelligence, is expected only in 2024 - by 1.6%. By 2026, according to analysts, Russia's GDP will increase by 1.9%.

The HEAD of the Accounts Chamber, Alexei Kudrin, suggested that the restructuring of the Russian economy would take about one and a half to two years, during which a recession would be observed. After that, the economy should begin to recover.