Power energy companies and the banking sector are expected to raise at least $35 billion in IPOs this year, says Central Bank Deputy Chairman Alexey Ulyukaev.
Photo: Ilya Pitalev
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Private Capital Inflow in Russia to Stand at $30 Bln in 2007
The net private capital inflow in Russia is to amount to $30 billion this year in a quite moderate estimate, a Central Bank official said Monday.
Russia’s trade surplus is to go down to zero by 2010, which means officials will not have to boost the national currency, Central Bank Deputy Chairman Alexey Ulyukaev told a news conference on Monday.
Power energy companies and the banking sector are expected to raise at least $35 billion in IPOs this year, according to Mr. Ulyukaev. The Central Bank’s deputy chair lauded this trend as these sectors are not linked with traditional leaders of the economy – the oil and gas industry. He also noted that two-thirds of the sum will come from foreign investors.
Alexey Ulyukaev reminded that the private capital inflow in Russia was $41 billion in 2006. The indicator for 2007 was forecast at $20 billion.
Russia’s second-ranking banking official also voiced an official prognosis for inflation in March which is expected to come to 0.7 percent.
www.kommersant.com
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