ULYANOVSK, October 9 (RIA Novosti) - Foreign investment in the Russian economy has totaled $50 billion so far this year, First Deputy Prime Minister Sergei Ivanov said on Tuesday.

"In 2007, despite crises on western financial markets, capital inflow into Russia has reached about $50 billion, while capital outflow has totaled $10 billion," Ivanov said.

Russia's economy received $55.1 billion in foreign investment in 2006, or 2.7% more than in 2005.

According to Ivanov, foreign investment has been growing steadily in the past few years due to political stability in Russia and the improving business environment.