1 Nov 2011 11:15

CBR ups 2011 net capital outflow forecast to $70 bln

MOSCOW. Nov 1 (Interfax) - The Central Bank of Russia has adjusted its forecast for net capital outflow this year upwards to $70 billion from $36 billion.

A draft of the main avenues for monetary-lending policy says that elevated rates of private-sector foreign asset growth will persist until year-end against less growth in the amount of resources raised abroad, resulting in net capital outflow rising to $70 billion.

The initial policy draft recently released had the CBR hiking its net capital outflow forecast from $35 billion to $36 billion.