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    NET CAPITAL FLIGHT FROM RUSSIA DROPS

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    MOSCOW, April 5, 2004 (RIA Novosti) - According to the preliminary data for March, in the first quarter of 2004 the net capital flight from the private sector in Russia amounted to $200 million against $400 million in the first quarter of 2003, the official Web site of the Bank of Russia says.

    The banks' net outflow of capital was $1.8 billion, the net outflow of capital from non-financial organizations and domestic enterprises was $1.6 billion.

    In the first quarter of 2003, banks brought $ 9 million of private capital into Russia, while the net outflow of capital from non-financial organizations and domestic enterprises was $1.3 billion.

    In 2003, the net capital flight from the private sector in Russia was $2.1 billion, but $10.3 billion was brought into the country through the banks. However, $12.4 billion were taken out of the country through non-financial organizations.

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