N. Berzon on the main causes for capital outflow from Russia

Head of the Funds Center HSE, Professor Nikolai Berzon, in an interview with VK pointed out two main reasons for the outflow of funds from Russia: the poor investment climate and corruption. The outflow of capital from Russia has not reduced. For the first six months of 2013, net capital outflow from Russia, according to the Central Bank, amounted to $38.3 billion.
In July, according to the calculations of the Ministry of Economic Development, another $6-7 billion will leave the country. The Bank of Russia forecasts a level of outflow of $67 billion for 2013. The Ministry of Economic Development expects capital outflow from Russia in 2013 to be within the range of $70-75 billion.