The outflow of private capital from Russia in the first quarter of 2009 amounted to 38.8 billion dollars. The statement was made head of the Central Bank Sergey Ignatiev, RIA News. Earlier in the Ministry of Finance said that the outflow does not exceed the mark of 33-34 billion dollars.
Why is the difference estimates Securities and Finance, Ignatyev not explained. According to him, as a whole for the year capital outflows from the country of 70 billion dollars, not 90, as predicted earlier.
Previously, it was reported that the cause of the outflow are payments for the debts of foreign enterprises. Moreover, in times of crisis businessmen prefer to keep funds overseas, and Western companies - to withdraw funds from emerging markets and focus on investments in developed countries. According to the Central Bank, in March, the outflow was connected to the decrease in balances on correspondent banks in the CB.
At the end of 2008 capital outflows from the country reached a record 129.9 billion dollars, far surpassing the Government. Even in 2007 the inflow was recorded at 83.1 billion dollars.
Data on the outflow of capital - not the first in which the expenditure of CB and MOF. For example, in mid-March, the head of the Ministry of Finance Alexei Kudrin said that Russia expects a second wave of banking crises. April 3, Sergei Ignatiev did not agree with his words, noting that the worst for the Russian economy is over, and GDP growth could start from April 2009.
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