Russia wins two golds on second day of 2017 Universiade in TaipeiSport August 21, 19:29
Washington’s new strategy in Afghanistan aimed against China, expert saysWorld August 21, 18:43
Russia settles last part of Soviet debtBusiness & Economy August 21, 18:37
Man wearing suicide belt shot dead near BarcelonaWorld August 21, 18:29
Soviet-era ground effect vehiclesMilitary & Defense August 21, 18:28
Man tries to hock someone else’s yacht at Moscow pawn shop for $252,000Society & Culture August 21, 18:27
Scientists from Russia's Tatarstan to present artificial skin at Army-2017 showMilitary & Defense August 21, 18:09
Russian scientists pinpoint gene mutations linked to cardiovascular diseasesScience & Space August 21, 18:03
Extension of Trans-Siberian railway to Vienna to cost 6.5 bln eurosBusiness & Economy August 21, 17:51
ST. PETERSBURG, May 22 /ITAR-TASS/. Foreign direct capital investment in Russia’s non-financial sector reached $12 billion in the first quarter of 2014, which is a sign of investors’ continued confidence in the Russian economy, presidential economic aide Andrei Belousov said on Thursday.
“In the first quarter, we saw a $12 billion inflow of foreign direct investment in the sector of non-financial organizations,” Belousov said at the St. Petersburg International Economic Forum.
"In the first quarter of last year, this investment totaled $21.3 billion, but if we exclude the effect of the TNK BP-Rosneft deal, the figure will also be about $12 billion,” Belousov said.
“This means that despite the ruble’s weakening that is hampering a foreign investment inflow, we are nevertheless retaining a confidence resource linked with foreign investment inflows,” Belousov said.
As for capital outflows, $28 billion worth of capital left Russia’s non-financial sector in the first quarter of 2014 compared with $28 billion in the same period of 2013 and $31 billion in 2012, the Russian president’s economic aide said.
“Therefore, there is a general trend of a slowdown in capital outflow from the non-financial sector,” Belousov said.
Capital outflows and FDI inflows are clear indicators of confidence, which is the basis for doing business, Belousov said.
The presidential economic aide also noted a record conversion of ruble savings into US dollars by Russian households in the first quarter of 2014.
“This is the result of a crisis of confidence among the population,” Belousov said.
“The crisis of confidence that has emerged is among the population. In the first quarter of this year, we saw a record amount - almost $20 billion - that households converted from rubles into US dollars. This is a real problem, which we have to resolve, and both the government and the Central Bank are dealing with this problem,” he said.