The rapid decline in inflation creates problems for the economy, Gref believes

© RIA Novosti / Alexei Codecoverage in fotoreceptor of the Board of Sberbank of Russia German Gref. Archival photoThe rapid decline in inflation creates problems for the economy, Gref believes© RIA Novosti / Alexei Codiscovered the image Bank

The rapid decline of inflation in Russia is not very healthy process, and the effect of low price inflation will manifest itself with a lag of several years, said the head of Sberbank German Gref.

«This rapid decline in the inflation rate is not a very healthy process, it is also a problem for the economy. Obviously, we already paid the price and will continue to pay more,» — said Gref was the TV channel «Russia 24».

«The impact of low inflation will not appear immediately — in a few years. You see that today, interest rates have a very large positive spread, which is not very good in General for investment activity. Therefore, the impact of low inflation, low interest rates will need to not expect in 2017 and maybe not even in 2018,» he added.

The head of Sberbank believes that low inflation is a good base, but it is not sufficient to restore economic growth.

«We need investments. Investments come to a place where they feel comfortable, where there is a high potential for their rapid, neurocritical implementation, and, of course, the potential for high returns. That’s all you need to create. This is the challenge that will face the new President and the government,» he concluded.