Russian capital outflow to reach $70 bn in 2012
22 Nov 2012
Net capital outflow from Russia this year will stretch to $65-70 billion, the country's finance minister Anton Siluanov said yesterday.
The figure is higher than the central bank's estimate of $67 billion, but in line with the forecast of deputy minister of economic development Andrei Klepach on the previous day.
''We'll specify the figure by December. Perhaps, it will be slightly bigger than the central bank's estimate, at $70 billion, or may be less'' Klepach said.
The economic development ministry had previously forecast Russia's capital outflow at $60-65 billion in 2012.
Capital outflow from Russia peaked at $134 billion in 2008, at the beginning of the global financial crisis, which dropped to $56 billion in the following year and further slid to $34 billion in 2010.
Last year the capital flight was around $80 billion.
