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Russian minister sees 0.6 pct GDP growth in 2014 if capital outflow $100 bln
March 27, 2014 / 6:30 AM / 3 years ago

Russian minister sees 0.6 pct GDP growth in 2014 if capital outflow $100 bln

MOSCOW, March 27 (Reuters) - Russian Economy Minister Alexei Ulyukayev said on Thursday capital outflow could be around $100 billion this year, and this would mean that gross domestic product in 2014 would slow to about 0.6 percent.

“If we assume in the first quarter capital outflow was $60 billion ... then (it) will reach around $100 billion for the whole year,” Ulyukayev told an investment conference.

“Under this scenario, we estimate that economic growth will slow down to 0.6 percent.”

The Economy Ministry forecast in January that GDP growth this year would be about 2.5 percent.

Reporting by Darya Korsunskaya, Writing by Lidia Kelly, Editing by Timothy Heritage

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