3 Mar 2015 09:39

Russian Finance Ministry expects capital outflow of $30 bln in Q1

MOSCOW. March 3 (Interfax) - The Finance Ministry expects capital outflow from Russia to slow considerably in the first quarter of 2015.

"In the first quarter we expect capital outflow of about $30 billion, in annual terms $90 billion-$100 billion," Finance Minister Anton Siluanov told reporters on Monday.

This is lower than the Finance Ministry's previous capital outflow forecasts of $120 billion-$130 billion for 2015, the minister said.

The Central Bank estimates that capital outflow totalled $72.9 billion in the fourth quarter of 2014 and $48.2 billion in the first quarter of last year.

The Economic Development Ministry is forecasting that capital outflow from Russia will slow to $115 billion in 2015 from $151.5 billion in 2014.