For the first quarter the outflow of foreign investments made up around 70 bln dollars

In experts’ opinion, during the first quarter of 2014 the foreign investors will move their assets from Russia abroad, which amount to 70 bln dollars. This proves that the depositors are gravely concerned about tensions between Ukraine and Russia that are escalating, as well as economic sanctions imposed by the West on Russia, BBC news says.

On Monday, March the 24, Andrei Klepach, Deputy Minister for Economy, gave a talk to journalists, having warned about possible economic stagnation and increase in inflation. He thinks in the first quarter of 2014 the Russian economics grew by 1,3%. However, Deputy Minister believes it is too soon to talk about overcoming of a crisis.

According to Mr.Klepach, the recession is not estimated yet the likelihood of economic stagnation is evident. It is not yet known, how long the economic downturn will linger and how serious its impact will be. The Ministry of Economy of the Russian Federation supposes that in the first quarter of 2014 about 65-70 bln dollars in foreign assets will be get out of the country. This amount considerably exceeds the figures reported last year. That is, for the entire 2013 the capital outflow amounted to only 63 bln dollars.

Mr.Klepach said that the sanctions introduced by the US and EC due to the crisis in Ukraine have not yet influenced the Russian economy. Nonetheless, the worsening relationship with the western countries is a negative factor for the economic growth that accordingly affects the capital outflow.