Sberbank chief says Russia cannot just hand out money

Russia cannot afford to distribute money to people as it is done in the US, Sberbank Chairman Herman Gref said.

According to him, the United States can afford to issue $3 trn worth of debt securities because bonds are floated on the market with investors from around the world. The funds raised are then channeled into the needs of their economy. Russia does not have such possibilities.

Gref underscored that Russia has limited resources and so has to resort to other measures, TASS reports.

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