Russia » Economics
Author`s name Michael Simpson

$2.9 Billion Removed from Russia in 2003

Where is the rest of the money?
Net removal of capital by individuals from Russia reduced to $2.9 billion in 2003 against the showing of $8.1 billion in 2002. The information is reported by the Russian Federation Central Bank as based on provisional results of the international balance of payment.

Net importation of capital by individuals to Russia made up $9.6 billion in 2003 ($2.5 billion in 2002). Non-financial enterprises and domestic economies registered removal of capital to the sum of $12.5 billion ($10.6 billion in 2002).
Outflow of Russia's private capital made up $14.8 billion in 2001.

Net removal of capital from Russia made up $0.4 billion in the first quarter of 2003; net importation of capital to Russia made up $3.6 billion in the second quarter of 2003; the third quarter of 2003 fixed outflow of capital at the rate of $8.7 billion and intake of capital to Russia made up $2.5 billion in the fourth quarter of the year.
On December 18, 2003 during his online interview Russia President Vladimir Putin forecast that capital outflow from Russia would make up $6-7 billion in 2003. The president emphasized capital outflow could be prevented if terms for investing the national economy were favorable.

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