MOSCOW (Sputnik) — Capital outflow from Russia in 2015 could reach $90-100 billion, including $60-70 billion spent on payment of external debts, Finance Minister Anton Siluanov said Monday.
"This amount includes some $60-70 billion in payments of external debts," the minister added.
According to Russia's Central Bank, capital outflow from Russia in 2014 grew to $151.5 billion, or 2.5 times year-on-year. According to the institution's January forecast, capital outflow could total $118 billion in 2015.
The huge rise in capital outflow in 2014 was prompted by Western sanctions against Russia, which restricted refinancing on foreign markets and deteriorated investors' confidence. Another factor was plunging value of the ruble, which was partially triggered by an oil price slump.
In January, the Central Bank predicted, however, that the net capital outflow would diminish in 2015 due to a decrease in external debt repayments.
