Some $87.9 billion of foreign money was injected in Russia’s economy in the first nine month of this year, while their accumulated amount neared $200 billion as of October 1, 2007.
Photo: Dmitry Saltykovsky
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Russia Joins the Corporate Race
According to official statistics, some $87.9 billion of foreign money was injected in Russia’s economy in the first nine months of this year, and their accumulated amount neared $200 billion as of October 1, 2007. The structure of investments is governed by opportunities on the markets of raw materials – over a fourth of all money went to the raw sector and metallurgy.
The amount of foreign capital accumulated in Russia’s economy equaled $197.8 billion as of October 1, 2007, showed the report of Federal Statistics Service that was released yesterday. It is 38.4 percent above the figure posted by early this year and 52.2 percent more than a year ago.
Nonresidents stepped up their investments 2.5 fold on year to $87.9 billion in the first nine months of this year; $39.8 billion of foreign money was paid off during the period. Cyprus, the Netherlands and Britain are still the leading investors, accounting for exactly a half of the total amount.
Direct investments of foreigners surged 91.3 percent to $19.6 billion over the period, though their weight in the aggregate amount narrowed to 22.3 percent from 29.1 percent a year ago. According to Russia’s Finance Minister Alexei Kudrin, if the growth continues, direct foreign investments will probably account for 2.7 percent of the GDP ($27 billion to $32 billion depending on the GDP deflator and the ruble-to-dollar exchange rate) by results of this year. In extent, it matches such states as China, Hungary and Poland. Moreover, Kudrin predicted their annual inflow to amount to between $40 billion and $50 billion in 2008 through 2010, specifying, however, that “it will depend on stability of our economy.”
www.kommersant.com
All the Article in Russian as of Nov. 21, 2007
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