Private capital inflow into Russia reached $41 billion in 2006

Monday, March 1, 2021

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Private capital inflow into Russia reached $41 billion in 2006, including $31 billion in direct foreign investment, President Vladimir Putin told a news conference Thursday. Putin said the figure was the result of the full liberalization of the Russian foreign exchange market. He said that in previous years Russia registered a capital outflow of $15-25 billion. Putin also said Russia's stock market capitalization reached $1 trillion. "Capitalization of the Russian stock market has come close to $1 trillion and Russia has joined the group of the world's top-10 economies in terms of this indicator. That is just the beginning. These are all important and serious indicators of economic development," Putin said. Inflation in Russia stood at 9% in 2006 compared with 36.5% in 1999, Putin said. "In 2006, we reached an inflation figure of 9% for the first time. The figure corresponds to the predictive indicators," Putin said. The Russian government will continue efforts to further reduce inflation, Putin said. "This year, in 2008, 2009 and 2010, we must reach a level of 4.0-5.0%," Putin said. Russia's GDP growth will amount to 6.7-6.9% in 2006, Putin said. "The country's economy continued to grow at a rapid rate. We will receive the final result in March but, according to various estimates, [2006] GDP growth will be 6.7-6.9%," Putin said. The Russian president said the final GDP result for 2006 will be known after the government analyzed the situation in the electric power sector at the end of 2006. "In any case, this figure is higher than in 2005, when GDP grew 6.5%," Putin said.

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