24 Sep 2011 12:43

Capital outflow from Russia could exceed $35 bln if economic situation worsens - Kudrin

WASHINGTON. Sept 24 (Interfax) - Capital outflow from Russia in 2011 could exceed the level of $35 billion expected by the Central Bank if the economic situation worsens, Russian Deputy Prime Minister and Finance Minister Alexei Kudrin told journalists.

"I think the Central Bank's plans are more or less realistic. If the situation is more critical, it [capital outflow] could be more," he said.

Among the primary reasons for capital outflow from Russia is a high price for oil, Kudrin said. "Our market does not provide oil companies with the opportunity for good and reliable investment, and therefore they invest, in particular, in international reserves," he said.