#4 - JRL 7038
Capital flight dropped to $12 bln in 2002 - Kudrin
MOSCOW. Jan 28 (Interfax) - Capital flight from Russia dropped to $11 billion - $12 billion in 2002, according to preliminary figures, against $16 billion in 2001, Deputy Prime Minister and Finance Minister Alexei Kudrin told Interfax.
"The final figures have not yet been received," he noted, adding that "the most important thing is the downward trend in capital flight was maintained last year, and the drop was rather considerable."
Net capital flight totaled $24 billion in 2000.
Capital flight topped forecast indicators due to seasonal factors in the fourth quarter, he noted.
"Capital flight increases somewhat at the end of the year because foreign companies working in Russia receive profits and take part of these out of the country," Kudrin said.
However, part of these profits usually come back by means of investment.