Currency converter
All news
News Search Topics
Use filter
You can filter your feed,
by choosing only interesting

Ulyukaev: GDP growth to be ca. 0.6% if capital outflow reaches $100 billion in 2014

March 27, 2014, 10:50 UTC+3 MOSCOW
1 pages in this article

MOSCOW, March 27. /ITAR-TASS/. If capital outflow from Russia reaches $100 billion, GDP growth will be around 0.6%, Russian Minister of Economic Development Alexei Ulyukaev stated on Thursday.

He recalled that, according to the ministry’s estimates, capital outflow is estimated at $60 billion in the first quarter of 2014.

“If we take it as a single capital outflow wave, we will reach a moderate capital outflow volume at around $100 billion annually. In case of this scenario, the economic growth forecast is reduced to 0.6% of GDP,” he said.

In this case, investments will drop by 1.3%.

Ulyukaev noted that economic growth “will be less than 1%” in the first quarter. “This may result mainly from a pause in investment development of the country. Last February investments in core assets were minus 3.5%, minus 7% in January and minus 5% for the past two months,” the minister added.

Show more
In other media
Partner News