Econ ministry sees Russia’s capital outflow at $23 bln in 2019

MOSCOW, Aug 29 (PRIME) -- The Economic Development Ministry has reduced its 2019 expectations for Russia’s net private capital outflow to U.S. $23 billion from the previous estimate of $38 billion, the ministry said late on Wednesday in the materials for its forecast for Russia’s social and economic development forecast for 2020 and 2021–2022.

The ministry also reduced the capital outflow forecast for 2020 to $14 billion from $24 billion, for 2021 to $20 billion from $21 billion, and for 2022 to $24 billion from $25 billion.

But the forecasts for 2023 and 2024 were raised to $30 billion from $37 billion and to $22 billion from $17 billion, respectively.

The central bank expects net private capital outflow from Russia to amount to $50 billion in 2019 and to $22 billion in 2020.

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