Russia's capital outflow expected to hit $30-40 bln in '11

Russia's Economic Development Ministry expects the country's capital outflow to hit $30-40 billion in 2011 instead of the earlier forecast zero capital inflow, Deputy Economic Development Minister Andrei Klepach said. "We will not be able to get zero capital inflow this year, the outflow will total about $30-40 billion," Klepach said. In 2012 the inflow is also expected at the zero level, according to Klepach, however there are more chances for the positive inflow than for the outflow. As for 2013-2014, the ministry expects an insignificant capital inflow amounting to about $10-20 billion. "This is a conservative estimation. The reason is that the economic growth rates are higher than in the developed countries," Klepach said, adding that it was the major condition for the attraction of capital to the country.