$4 bn flew from Russia in April

$4 bn flew from Russia in April
As much as $3.5-4 billion flew from Russia in April 2013. The figure is, however, less than in March, the Finance Ministry said.

In March the Ministry said the total capital outflow from Russia in 2013 could be more than $10 billion due to financial turmoil in Cyprus.

“Any disturbance in Europe or in the developing world affects us in the short term. And strictly speaking it was seen on market fluctuations. So it is certain risks for us and for the banking sector: the money froze and the risks have increased,” Russia’s Deputy Finance Minister, Andrey Klepach said on Monday.

In mid-April the Ministry of Economic Development published a number of predictions about the Russian economy in the coming years. In particular, the forecast of capital outflow from Russia in 2013 was raised to $30-35 billion.