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Capital outflow from Russia amounts to 13.6 bln USD in Q3

10-03-2012 22:05 BJT

MOSCOW, Oct. 3 (Xinhua) -- Private capital outflow from Russia reached an estimated 13.6 billion U.S. dollars in the third quarter of 2012, the country's central bank said Wednesday.

Russia's capital outflow in July to September increased from 9.7 billion dollars in the second quarter, the bank said in a report.

In the first nine months, a total of 57.9 billion dollars left the country, with 34.6 billion leaving in the first quarter alone.

The bank forecast that Russia's capital outflow would hit 60 to 65 billion dollars in 2012, lower than the 80.5 billion dollars in 2011.

Alexei Ulyukayev, first deputy head of the central bank, said earlier that the net capital flight from Russia would shrink to 10 billion dollars in 2013 and to zero in 2014.

Ulyukayev said the capital outflow would reverse in 2015 with 15 billion dollars inflow expected. He said his optimism was boosted by the privatization of Sberbank, Russia's largest commercial bank.

In 2008, capital flight from Russia hit a record high of 133.7 billion dollars due to the global financial crisis.

Editor:James |Source: Xinhua

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