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Russia's net capital inflow to exceed $30 bln in Jan.-July

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Russia's net capital inflow will exceed $30 billion in January-July, a Central Bank official said on Thursday.
NIZHNY NOVGOROD, August 21 (RIA Novosti) - Russia's net capital inflow will exceed $30 billion in January-July, a Central Bank official said on Thursday.

"Net inflow was $14 billion in January-June and is estimated at $19 billion in July," said Gennady Melikyan, first deputy chairman of the Central Bank.

However, the official said that August has so far seen a net outflow.

"Foreigners are letting go of some assets, which affects the ruble rate and the stock market. I think we are close to reaching a low-point, mostly because of the political situation [the conflict between Russia and Georgia], and there is no escaping this," Melikyan said.

The official also said economic growth has started to slow down.

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