(MENAFN) Net capital outflows from Russia more than doubled in 2014 to USD151.5 billion, prompted by the Ukraine crisis and the plunging value of the ruble, according to statistics from the central bank, AFP reported.
Russia in 2013had already seen its high level of capital flight, a recurring problem for the country, reach USD61 billion.
In early December, the central bank estimated that capital flight would amount to USD128 billion but it was pushed higher by the ruble's steep plunge at the end of the year on the back of falling oil prices and growing panic as people rushed to exchange their savings.
Just the fourth quarter of 2014, capital outflows amounted to USD72.9 billion, compared to USD16.9 billion in the same period a year earlier.
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