EconMin forecasts Russias 2012 net private capital outflow at USD 50bn.

By bne IntelliNews August 7, 2012
Russia's net private capital outflow may amount to around USD 50bn in 2012, deputy EconMin Andrei Klepach has announced, as cited by RIA Novosti. The outcome will depend on oil prices, he noted. The EconMin expects the average price for Urals blend oil to be below USD 115 per barrel in 2012, he added. In April, the ministry revised its forecast for the average price for Urals oil for 2012 to USD 115 per barrel from USD 100 per barrel. The official 2012 capital outflow forecast now stands at USD 25bn. The net capital outflow from Russia in Q1 went up by 44% y/y to USD 47bn. In May alone capital outflow slowed down to USD 5.8bn from estimated USD 7.3bn in April, USD 7bn in March, USD 11.2bn in February and USD 15.2bn in January.

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