April 09, 2014 09:40
Russian Econ Ministry revises capital outflow forecast up to $100 bln for 2014
MOSCOW. April 9 (Interfax) - Russia's Economic Development Ministry has increased its capital outflow forecast for this year to $100 billion from the previous $25 billion, Deputy Economic Development Minister Andrei Klepach said at a Tuesday evening briefing in Moscow.
The outflow forecast for next year in the conservative scenario is increased to $50, in the base scenario to $40 billion. The previous forecast was for zero outflow in 2015.
Central Bank figures published on Tuesday show that net capital outflow from Russia by banks and companies jumped 80% to $50.6 billion in the first quarter of 2014 from $27.5 billion in the same period of 2013. However, this was less than the Economic Development Ministry's projection of $60 billion-$70 billion for the quarter.
"With [forex] swaps this is almost $60 billion [for the first quarter]. Maybe $10 billion less [for the year], but for now this is within the limit of accuracy. We're not going to change the forecast [for the year] for the time being," Klepach told Interfax, commenting on the Central Bank figures and the possibility of a new revision of the forecast for the year in light of the lower that expected figure for the first quarter.
In the base scenario the ministry is forecasting zero capital outflow in 2016, compared to a previously projected inflow of $20 billion, and an inflow of $10 billion in 2017. The conservative scenario projects an outflow of $20 billion in 2016 and $10 billion in 2017.
Cf pr vp of ak
(Our editorial staff can be reached at eng.editors@interfax
March 24, 2018
Russia, Poland to triple pass-through capacity on border during 2018 World Cup
Progress supply ship to conduct experiments for 1 month before sinking into ocean
Independent communication system to be created in Russian segment of ISS by end of this year
Booster from U.S. rocket launched in 1969 was likely torn to 3 pieces in space
Prisons are no longer hotbeds of TB - FSIN
Ilyushin Il-96 planes for carrying Russia's top officials to be equipped with domestic navigation systems
Tajik border guards kill Afghan drug courier in shootout
Rosaviatsiya reports problems with maintaining air worthiness of foreign planes in Russia
Questions about legislation observance arise to WhatsApp, Facebook - Nikiforov
Poroshenko regularly raised issue of Savchenko release when she was in Russia - Peskov
Unfavorable int'l situation promoted voter turnout in recent election in Russia - Peskov
Russian Defense Ministry: 4,979 militants, their family members leave Syria's Harasta in past 48 hours
Situation in Syria stabilizes - Russian military