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
From July 4, 1776 to June 12, 1990

From July 4, 1776 to June 12, 1990

June 12th for Russians is to some extent the equivalent of July 4th for Americans when the former colony of the British Empire has declared its independence. ...
Vladimir Putin: The Real Lessons...

Vladimir Putin: The Real Lessons...

The Russian president offers a comprehensive assessment of the legacy of World War II, arguing that "Today, European politicians, and Polish leaders in particular, wish ...
RUSSIAN FEDERATION SITREP 11 JUNE...

RUSSIAN FEDERATION SITREP 11 JUNE...

RUSSIA AND COVID. Latest numbers: total cases 502K; total deaths 6532; tests per 1 million 95K. Russia has done 13.8 million tests (second after USA); among ...
Russian Diaspora Group Urges...

Russian Diaspora Group Urges...

WASHINGTON (Sputnik) - The Russian Community Council of the USA (RCC) is urging authorities in Alaska's Sitka to refrain from removing a statue of city founder Alexander ...
\

\'Comrade Trump\': GOP PAC Mocks...

With the US presidential election in November looming large on the horizon, incumbent President Donald Trump is being criticised on many fronts: his response to the ...