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
October 07, 2015
MEDVEDEV BACKS PROPOSAL TO COMPENSATE REGIONS FOR REVENUE SHORTFALL AND ON FINANCIAL AID FOR REGIONS
Medvedev considers preserving anti-crisis fund in 2016 to be right while expanding its usage
OPTIMIZATION OF SPENDING MUST BE CARRIED OUT NOT BY RAISING TAXES BUT BY LOWERING INEFFECTIVE COSTS - MEDVEDEV
DPR reports attack on populated area of Spartak (Part 2)
Putin: strikes on IS terrorists in Syria from Caspian Sea show good standing of Russian defense industry, army
Russia's Caspian Flotilla launches 26 missiles upon 11 IS targets in Syria - Defense Minister Shoigu
MICEX and RTS Indexes at 15:00 MSK
Launch of Proton LV coupled with Turkish satellite planned for Oct 16 (Part 2)
Polymetal may refinance about $200 mln before yearend - CEO
Shoigu: 19 terrorists' command points, 12 ammunition warehouses destroyed since the beginning of operation in Syria (Part 2)
Donbas militia holding over 150 prisoners - Kyiv
Medvedev: key task for government is maintaining budget balance
Financing for agriculture won't be reduced in 2016 - Medvedev