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Russia facing $55-60 billion outflow in 2013

December 16, 2013, 12:59 UTC+3 MOSCOW
1 pages in this article

MOSCOW, December 16. /ITAR-TASS/. Russia faces capital outflow of $55-60 billion this year, presidential aide Andrey Belousov told a conference organised by the Agency for Strategic Initiatives and Vedomosti daily.

“Annual capital outflow is about $55-60 billion,” he said, adding that the figure would remain about the same this year. This was less than in 2011, when up to $80 billion fled Russia, he said, but “even so, this is a very large amount”, even “critical”.

Belousov said annual foreign direct investment in Russia had been running at $45-50 billion. “This is the amount recorded in 2010-2011,” the aide said, adding that “Less the effect of the TNK-BP purchase deal, I think we’ll see the same amount this year.”

This indicated that international investors had not yet felt the effect of moves to improve Russia's business climate, he said.

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