Capital outflow from Russia in 2016 won't exceed $15 bln - Ulyukayev
MOSCOW. Oct 26 (Interfax) - Net capital outflow from Russia in 2016 may amount to no more than $15 billion, Economic Development Minister Alexei Ulyukayev said at the Federation Council.
"In 2014 we had capital outflow that exceeded $153 billion, last year this fell 67% to $52 billion. This year it will decrease by another 75% [...], still down for the year, but it will be quite small, no more than $15 billion," he said.
The Economic Development Ministry said previously that it thought capital outflow would be in the range $15 billion-$20 billion. In September, the Central Bank lowered its forecast for net capital outflow to $14 billion from $25 billion previously. The Finance Ministry has not ruled out a zero outflow this year.
The Central Bank estimates that the net capital outflow amounted to $9.6 billion in January-September 2016, 80% less than the outflow of $48.1 billion in the same period last year. The outflow in the third quarter alone was $2.6 billion, according to the Central Bank estimate.
