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4 Sep, 2007 02:34

Capital outflow from Russia - less than thought

Investors pulled money out of Russia last month – to the tune of a net $US 7.6 BLN.

But Economy Minister German Gref said that was lower than initial reports of $US 9 BLN.

Investors sold Russian assets last month as they lost their appetite for risk.

Over the full year, however, the Central Bank expects Russia to see an inflow of $US 70 BLN in private capital.

Gref also said the economy is expected to grow by as much as 7.4% this year, up from an earlier forecast of 6.5%.