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    FOREIGN INVESTMENTS INCREASED BY 1.5 TIMES LAST YEAR

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    Moscow, February 19th, 2004. (RIA Novosti correspondent). Last year foreign investments in the Russian economy totaled $29.7 billion. According to Russian State Statistics Committee (Goskomstat), foreign investments increased by 1.5 times in comparison with 2002.

    Goskomstat representatives said that by the end of 2003, foreign capital in the Russian economy totaled over $57 billion, which is 32.8% higher than the same period last year.

    More than half of this capital (52.7%) is compensated investments - credits granted by international financial organizations, trade credits, etc. Their share amounted to 49.2% by the end of 2002. As for direct investments, their share dropped from 47.4% to 45.8%.

    The main investors remain Germany, the United States, Cyprus, Great Britain, France and the Netherlands. They accounted for 68.7% of accrued investments and 68.2% of direct foreign investments in Russian economy in 2003.

    The branch distribution of foreign capital in Russian economy at the end of 2003 is as follows: 39.4% in industry; 31.3% in trade and food; 7.4% in communications; 5.1% in transportation; 1.9% in finance, credit accommodation, insurance and pension fund schemes; 1.2% in construction; and 0.5% in agriculture. - 0 - (MAN/SM)

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