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    LAST YEAR SENDS RUSSIAN CAPITAL OUTFLOW US$2 BN DOWN

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    //JANUARY 27, 2004 /RIA NOVOSTI/--

    ##Capital outflow from Russia shrank by close on two billion US dollars last year, the federal Ministry of Economic Development and Trade says on its official website.

    Registered private capital outflow was at an approximate $17.8 billion, as against 19.7 billion for 2002. Net outflow made $2.9 billion-a spectacular decrease, as compared to 8.1 billion the year before. No outflow was registered in the second and fourth quarter-years. On the contrary, there was a net inflow of overseas capital--$3.6 billion and 2.5 billion, respectively.

    A considerable overseas capital inflow to the private economic sector came as a determinant factor, with $21 billion against 17.9 billion in 2002.

    The Russian balance of payments for 2003 had a record-breaking surplus. Experts explain it by a lucrative foreign-economic situation, increasing overseas capital inflow, and shrinking capital exports by private residents.

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