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Russia's capital outflow surges in 3 months
(MENAFN) Russia posted a USD63.7billion in outflows in the first quarter amid the Ukrainian political crisis, which poses another risk for Russia's suffering economy, the Peninsula Qatar reported
"Of course, it's the conflict with Ukraine and the uncertainty about potential (military) operations in eastern Ukraine that triggered such big outflows," said an economist at Uralsib.
Economists say that Ukraine's crisis is only one reason of the increased outflow, as this phenomenon was already strong even before Russian's military intervention in Ukraine was an option.
Reports by the central bank of Russia show a huge outflow of capital during 2013 and the first three months of 2014 at a total of USD126.7billion
"Of course, it's the conflict with Ukraine and the uncertainty about potential (military) operations in eastern Ukraine that triggered such big outflows," said an economist at Uralsib.
Economists say that Ukraine's crisis is only one reason of the increased outflow, as this phenomenon was already strong even before Russian's military intervention in Ukraine was an option.
Reports by the central bank of Russia show a huge outflow of capital during 2013 and the first three months of 2014 at a total of USD126.7billion
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