Gref sees some signs of Russia's economy stabilization

Russia’s Sberbank sees some signs of stabilization of the national economy amid rising oil prices and the strengthening of the ruble, the head of Sberbank German Gref said.

This makes it possible to predict the positive dynamics of Russia's GDP in the second half of 2016, he added.

"Despite the negative growth rate of the Russian economy in the first half of 2016, we see some signs of stabilization in conditions of growing oil prices and the strengthening of the ruble, which allows us to predict the positive dynamics of the GDP in the second half 2016," TASS cited him as saying.

According to the Economic Development Ministry, Russia's GDP declined by 0.9% year-on-year in the first half of 2016.