Russia’s Q3 capital outflow hits $13.6 bln – Central Bank
2012-10-03 15:53:05
Net private capital outflow from Russia reached an estimated $13.6 billion in the third quarter of 2012, up from $9.7 billion in the second quarter, the Bank of Russia said on its website on Wednesday.
Russia’s net private capital outflow stood at $34.6 billion in the first quarter and reached $57.9 billion in January-September 2012.
Russia’s Central Bank expects annual net capital outflow of $60-65 billion in 2012.
Capital flight from Russia peaked at $133.7 billion in 2008 when the global economic crisis broke out, falling to $56.1 billion in 2009. Capital outflow from Russia stood at $80.5 billion in 2011 compared with $34.4 billion in 2010.
Net private capital outflow from Russia is expected to shrink to $10 billion in 2013 and give way to a $15 billion capital inflow in 2015, Central Bank First Deputy Chairman Alexei Ulyukayev said on Thursday.
“We believe the capital account situation will gradually improve. We presume there will be still a slight capital outflow of $10 billion in 2013, a zero capital outflow/inflow balance in 2014 and a small capital inflow of $15 billion in 2015,” Ulyukayev said.