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Cbank expects Russia’s 2014 capital outflow slightly below $100 billion

September 05, 2014, 12:08 UTC+3 SOCHI
n late August, the Economic Development Ministry changed its capital outflow forecast for 2014, saying that it will reach $100 billion instead of $90 billion expected earlier
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© ITAR-TASS

SOCHI, September 05./ITAR-TASS/. Russia’s net private capital outflow may amount to around $100 billion or slightly less in 2014, the central bank’s First Deputy Chairwoman Ksenia Yudayeva told reporters at a banking forum on Friday.

“We estimate it to be less (than $100 billion). Perhaps, around $100 billion,” Yudayeva said.

Previously, the bank forecasted the country’s net private capital outflow at $85-$100 billion for 2014 amid geopolitical tensions.

In late August, the Economic Development Ministry changed its capital outflow forecast for 2014, saying that it will reach $100 billion instead of $90 billion expected earlier.

Russia’s central bank does not plan to significantly adjust a growth forecast for gross domestic product (GDP), the central bank’s First Deputy Chairwoman Ksenia Yudayeva told reporters at a banking forum on Friday.

“We do not see serious discrepancies between our forecast and the Economic Development Ministry’s one,” Yudayeva said, adding that the bank thinks the same about the ministry’s inflation forecast.

Under the latest ministry’s forecast, Russia’s GDP will rise 0.5% in 2014 and 1.0% in 2015. Consumer price inflation will amount to 7.0%-7.5% in 2014 and 6.5% in 2015.

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