The analysts are unable to explain the difference between data of CBR and Russian Statistics Service but think that the CBR figures are more reliable.
Photo: Alexey Kudenko
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Central bank, Russian Statistics Service Split Over Foreign Money
The foreigners invested $35 billion in Russia from January to September, according to Russian Statistics Service. But the Central Bank of Russia gave up quite different figures. The conclusion of analysts is that the real movement in foreign money is clear neither to CBR nor to Russian Statistics Service, but figures of the bank seem more reliable.
Foreign investments in Russia’s economy grew 31.7 percent on year to $35.4 billion in the first nine months of 2006, Russian Statistics Service reported yesterday. The net funding of foreigners is estimated at just $0.8 billion, as the Russians invested $34.6 billion overseas over the period.
The structure of foreign money suffered no material changes vs. the previous year. The foreigners still favor processing facilities ($9.059 billion) and mining ($8.166 billion). Direct investments stepped up 55.5 percent to $10.3 billion in the first nine months, and portfolio investments jumped 82.3 percent to $665 million. Other investments (including commercial and other loans) widened 22.8 percent to $24.4 billion, Russian Statistics Service said.
Of interest is that the Central Bank of Russia (CBR) gave up quite different figures. CBR evaluated the nine-month direct investments of foreigners at $20 billion and portfolio investments at $9.6 billion. The analysts are unable to explain the difference but think that the CBR figures are more reliable.
www.kommersant.com
All the Article in Russian as of Nov. 22, 2006
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