TOKYO, Jul 19 (PRIME) -- A capital inflow to Russia in May signifies a return of investor trust in the country’s financial market and economy, Economic Development Minister Alexei Ulyukayev told Japanese channel NHK in an interview broadcast Tuesday.
“The main point is that the capital flow dynamics have changed to positive starting from May of this year. We had a huge outflow in 2014, U.S. $153 billion. It was really smaller in 2015 but still $57 billion. We have seen a capital inflow starting from May. It is not large but there is one,” Ulyukayev said.
In June, Ulyukayev said that a net private capital outflow from Russia will amount to $25 billion in 2016.
According to the central bank, Russia’s net private capital outflow shrank 75% on the year to $12.7 billion in January–May.
The minister also said in the interview that high market volatility worldwide after Brexit has calmed down but there are still risks “because the process is very lengthy, comprehensive and market participants do not fully understand what the result will be.”
Ulyukayev also said that Russia’s reserves, fiscal and monetary policies and investment support have had good outcomes so far.
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