Capital Outflow Forecast in Russia Down to $60 Bln

Author: us-russia
Comments: 0
Capital Outflow Forecast in Russia Down to $60 Bln
Published 10-12-2012, 02:46
The Russian Finance Ministry slashed its annual capital outflow forecast to $60 billion, the ministry’s head Anton Siluanov said in Moscow on Sunday.

Siluanov predicted earlier that the capital drain would stand at $65 billion to $70 billion.

The Russian Central Bank said capital outflow already reached $61 billion between January and October, and predicted the year-end figure to stand at $67 billion. The Economic Development Ministry’s capital outflow estimates for 2012 range from $60 billion to $70 billion.

In 2011, capital outflow stood at $80.5 billion in Russia, which ranked 112 of 185 economies in the latest Doing Business rating by the World Bank, released in October.

The Russian Economic Development Ministry said on Sunday it is slashing its gas export forecast for 2012 to 180 billion cubic meters from 193 billion cubic meters, a figure it voiced in September.

But the ministry expects fixed investment to stand at 7.8 percent, not 5.5 percent as it predicted earlier, Economic Development Minister Andrei Belousov said.

A preliminary forecast for fixed investment in 2013 was decreased from 7.2 percent to 6.5 percent, Belousov added.

Separately, Siluanov reiterated that Russia would not revise its flat income tax of 13 percent, but said the government is hoping to devise a new property tax for the rich by 2014.

 

RIA Novosti

Comments: 0
Experts' Panel
Are the U.S. and Russia...
The Sunday, February 24 edition of Russian state television’s...
Are the U.S. and Russia...
Top
popular in the journal
Is Ukraine vital to U.S. security?

Is Ukraine vital to U.S. security?

The ongoing impeachment inquiry of President Trump can certainly compete with Hollywood’s most successful drama or comedy shows. However, when we deal with ...
Responding to Lt. Col. Vindman...

Responding to Lt. Col. Vindman...

honor and applaud Army Lt. Col. Alexander Vindman’s service to his country. He’s a hero. I also respect his decision to testify at the impeachment proceedings. I suspect ...
RUSSIAN FEDERATION SITREP 21...

RUSSIAN FEDERATION SITREP 21...

RUSSIA INC. The Russian economist Mikhail Dmitriev says "the Russian economy does not give a damn about the world recession [which he sees coming soon].” And he’s ...
RUSSIAN FEDERATION SITREP 5...

RUSSIAN FEDERATION SITREP 5...

POWER OF SIBERIA. Putin and Xi turned on the pipeline on Monday. It carries gas from Russia’s Far East into China and has a carrying capacity of 61 billion ...
Уперлись в стенограмму

Уперлись в стенограмму

Политолог Эдуард Лозанский — о том, как Владимир Зеленский стал средством на пути Демократической партии США к цели