CBR: net capital outflow from Russia equals $35.1 bln in 1Q
2012-04-04 15:33:59
A net outflow of private capital from the Russian Federation in January — March 2012, according to the preliminary data of the balance of payments, totaled $35.1 bln against a net outflow of $19.8 bln in the year-earlier period, Prime-TASS reported.
The Bank of Russia revised capital outflow data for 2011, as the media previously wired that the indicator totaled $84.2 bln against $33.6 bln in 2010. In line with the revised data, a capital flight in 2011 totaled $80.5 bln compared to $34.4 bln a year earlier.
The Bank of Russia’s official forecast for a capital outflow in 2012 is $10.5 bln, but in January first deputy CBR chairman Alexey Ulyukaev claimed the regulator expects a zero balance of capital inflow/outflow in 2012.
At the same time, the Finance Ministry of Russia has a more pessimistic forecast, as Finance Minister Anton Siluanov estimated a capital flight from the Russian Federation in 2012 could be around $40 bln. Previously deputy MED head Andrey Klepach said that the Ministry for Economic Development intends in April to revise its forecast for a net capital outflow from Russia in 2012.