The FINANCIAL - Bank Of Russia: January Capital Outflows $11 Billion

Bank Of Russia: January Capital Outflows $11 Billion - Report

22/02/2012 03:33 (90 Day 05:25 minutes ago)

The FINANCIAL -- Capital outflows from Russia totaled $11 billion last month, First Deputy Central Bank Chairman Alexei Ulyukayev said, business daily Vedomosti reports Wednesday.

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According to Borsa Italiana - London Stock Exchange Group, earlier this week, Deputy Economy Minister Andrei Klepach said Russia had likely seen around $17 billion in capital flight last month, well above estimates of the central bank and analysts.

Capital flight from Russia last year totaled $84.2 billion, the largest since the 2008 financial crisis, partly due to the uncertainty surrounding presidential elections in March and a poor investment climate.

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