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THIS YEAR RUSSIA TO GET MORE FOREIGN INVESTMENTS THAN REINVEST IN OTHER COUNTRIES

MOSCOW, JUNE 5 (RIA NOVOSTI CORRESPONDENT NATALIA BYRKINA) - This year Russia is going to receive, for the first time ever, more foreign investments than reinvest in the economy of other countries, Yuri Isayev, Deputy Minister for Economic Development and Trade, has told a press conference.

This is seen from the figures for the first quarter of this year, he said.

The ratio has for the first time improved, said Isayev. "While in 2002 Russia got 19.7 billion dollars and took out almost as much - 19.8 billion dollars, on results of the first quarter of this year 6.2 billion dollars were in and 3.1 billion out of Russia," said Isayev.

Among the reasons for the improvement are the stable socio-political situation in Russia and the recognition of its market-economy status by the European Union and the United States.

According to the Ministry for Economic Development and Trade, Germany, Cyprus and the United States are the largest investors.