Russia may face net capital outflows of around $30 billion in the first quarter and $90-$100 billion in 2015 as a whole, Finance Minister Anton Siluanov told reporters Monday.
The forecast implies a fall from last year's record net capital outflow of $151.5 billion.
He added that Russia was unlikely to tap foreign capital markets next year, for the third year running, and that the state was unlikely to sell its stake in Rosneft, Russia's top oil producer, this year.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.