CB expects capital outflow trend to halt in 2012, followed by inflow in subsequent years
MOSCOW. Sept 20 (Interfax) - The trend towards capital outflow from Russia will halt, starting from 2012, according to moderately optimistic and optimistic scenarios, included in materials for a government meeting on Thursday.
Russia's Cabinet of Ministers will review a draft of the main tenets of monetary policy on Thursday as prepared by the Central Bank.
A steady inflow of capital at $10 billion-$15 billion a year is forecast for the following years, the materials said.
It was earlier reported that the CB forecast capital outflow from Russia this year at up to $35 billion in 2011.
The first option for monetary policy foresees a decrease in the average price for oil to $75 per barrel with GDP increasing by 3.3%. The second scenario, which is used in the government forecast and the basis of the draft federal budget for 2012-2014, expects oil prices in 2012 at $100 per barrel and GDP growth at 3.7%. The third scenario for economic development puts oil price at $125 per barrel with GDP growth at 4.7%.