FINANCE MINISTRY PROPHESIES DOMESTIC DIRECT INVESTMENTS BOOM IN 2004

MOSCOW, FEBRUARY 18. /RIA NOVOSTI / -- In 2004 the volume of domestic direct investments in the economy of Russia is expected at 92 billion dollars, deputy finance minister Anton Siluanov told the upper parliamentary chamber on Wednesday.

For comparison's sake, in 2000 the volume of domestic direct investments stood at 32 billion dollars, 56 billion dollars in 2002, Siluanov said.

"Investments keep going up: domestic funds are working and being invested in the Russian economy", he said.

The volume of foreign investments in Russia's economy is expected to stand at 6 billion dollars in 2004, Siluanov said.

In 2003 the net outflow of capital from Russia equalled 2.8 billion dollars /8 billion dollars in 2002, 25 billion dollars in 2000/, the deputy finance minister recalled. "The Russian economy is gaining more and more attraction for foreign investments", he stressed.

This is very much due to the steps taken to cut inflation and the tax burden on the economy, noted the deputy finance minister.