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  Wednesday, December 11, 2019
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Russia saw net capital outflow of $38.8 billion in the first
Russia saw net capital outflow of $38.8 billion in the first quarter of 2009, the head of the Russian Central Bank said on Friday.

"Net capital outflow [from Russia] was $38.8 billion in the first quarter [of 2009]," Sergei Ignatyev said.

He also reported that Russia's trade surplus was $21.7 billion in January-March 2009 against $49.9 billion in the first three months of 2008.

The banker expressed hope that Russia's economy could start growing later this month.

"I expect that as early as this month, the start of economic growth is possible," Ignatyev told journalists.

The Russian government expects the country's economy to shrink by 2.2% in 2009.


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