“The bank system of Russia becomes more efficient”, Frederic Oudea commented on the economic situation in Russia on SPIEF-2019

    06 June

Frederic Oudea, CEO of Societe Generale Group, takes part in the work of St.-Petersburg International Economic Forum that is held on June 6-8 in St.-Petersburg.

During one of the first session on the topic “Russian economy in search of growth momentum”, Frederic Oudea spoke about the measures are necessary to take in order to convert the trust of investors into an economic growth and put a high mark on the status of the Russia bank system.

“We observe the slowing down of the world economy growth. However, Russian economy feels quite all right. Russia succeeded in maintaining stability even during the crisis. The federal budget surplus and federal reserves that are now higher than external debt provide the ground for attracting investments and the improvement of investment climate in general. The scenarios that we anticipated in 2015 did not take place. Russia presented itself well. We see that Russian bank system becomes more efficient, a good regulatory policy is carried out and it makes the country convenient and trustworthy for investors“, Frederic Oudea. Anton Siluanov, First Vice-Prime Minister, Minister of Finance, Elvira Nabiullina, Head of the Bank of Russia, Maxim Oreshkin, Minister of Economic Development and Alexey Kudrin, Chairman of Accounts Chamber, were among the participants of the session.

You can find the full video of the session by following this link.