Net capital outflow in Russia exceeds 38 billion dollars in 2010

Net capital outflow from Russia amounted to 38.3 billion U.S. dollars in 2010, about one third less than in 2009, RBC news agency reported Thursday.

According to the Russia's Central Bank data, in the fourth quarter of 2010 alone, about 22.7 billion dollars left Russia.

In 2009, some 56.9 billion dollars left Russia and in 2008 the amount was 129.9 billion.

The Russian Central Bank earlier forecast that capital net outflow would not exceed 25 to 30 billion dollars in 2010. The Ministry of Economic Development expected the figure would be equal to a maximum of 25 billion dollars.

The bank expects the tide to turn in 2011 with private capitals inflow to outweigh outflow.

The last year when private foreign capital net inflow was registered was 2007, when 83.1 billion dollars of investments remained in the Russian economy.

Source: Xinhua