April 6, 2012 / 4:06 PM / 7 years ago

Russia economy ministry sees 2012 capital flight at up to $20 billion

MOSCOW (Reuters) - Russia’s Economy Ministry expects $10-$20 billion in net capital outflows to flee the country in 2012, Deputy Economy Minister Andrei Klepach said on Friday.

Klepach told a briefing that the ministry has revised its 2012 forecast of an average ruble rate to 29.2 rubles per dollar from 31.1 rubles.

Budget deficit in 2012 is seen at 0.5 percent of gross domestic product (GDP) while the economy itself will grow 3.8 percent in 2013 compared to a previous forecast of a 3.9 percent growth, he said.

The ministry also lowered its forecast for industrial output growth to 3.1 percent from 3.6 percent in 2012, and to 3.4 percent from 3.8 percent in 2013, Klepach said.

Reporting by Maya Dyakina; Writing by Andrey Ostroukh; Editing by Gleb Bryanski

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below