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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.