Russia’s net capital outflow will ease as companies step up foreign borrowing, according to a draft Central Bank policy document obtained by Bloomberg on Wednesday.
“In the second half of 2010, we expect foreign liabilities of corporations and banks to increase, slowing net outflow of private capital to $8.7 billion by the end of the year,” the Central Bank said in the document. The Central Bank declined to comment.
Net capital inflows are likely to total $12 billion next year, assuming that the Urals blend of crude averages $75 a barrel, the bank estimates.
(Bloomberg)
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