Russian DefMin surprised by UNICEF inaction amid growing terrorist activity in SyriaRussian Politics & Diplomacy October 27, 23:14
Russian Defense Ministry: Video of airstrike on Syrian school doctored upRussian Politics & Diplomacy October 27, 21:22
Putin says its too early for him to retireSociety & Culture October 27, 21:10
Putin urges US not to provoke Russia to actively protect national interestsRussian Politics & Diplomacy October 27, 20:20
NATO’s actions create risks to European security — Russian NATO envoyRussian Politics & Diplomacy October 27, 19:52
Putin: Moscow ready to resume gas supplies to Ukraine on prepaid basisBusiness & Economy October 27, 19:47
Putin is sure Russia and Ukraine will find way to end crisisRussian Politics & Diplomacy October 27, 19:32
Refugee crisis demonstrates EU incapacities — Austria’s ex-presidentWorld October 27, 19:08
Putin urges new Marshall Plan for Middle East to see recovery and growthRussian Politics & Diplomacy October 27, 18:30
MOSCOW, September 16. /ITAR-TASS/. Russia’s capital outflow may hit $110 billion in 2014, Russia's former finance minister and head of the Civil Initiative Committee Alexey Kudrin said on Tuesday.
“I earlier spoke about $150 billion but I now believe that this figure will be about $110 billion,” Kudrin said.
He predicted in March that Russia’s capital outflow would hit $150-160 billion in 2014.
The baseline scenario for the Russian economy prepared by the Central Bank of Russia predicts net capital outflow at $90 billion in 2014, $35 billion in 2015, $29 billion in 2016 and $18 billion in 2017.
Western sanctions imposed against Russia may plunge the country into a recession, Kudrin said. “I don’t rule out that the sanctions may provoke a recession in Russia for a year or even for two years, if banks’ operations are additionally restricted in some currencies,” Kudrin said at a conference held by the US Chamber of Commerce.
Kudrin told the forum that Russia was going through a difficult period, and economic growth rates would remain low for another 3-5 years. “The slow growth will persist for a longer period unless certain reforms are carried out,” the former finance minister said.
Kudrin also said he estimated the country’s GDP growth to slow by 1% under the impact of Western sanctions.