Accumulated foreign capital grows in Russia

The accumulated foreign capital in Russia's non-financial sector of economy advanced by $7.3bn to $42.93bn last year, the center of macroeconomic studies of Unicon told RBC.

According to the center's analysts, this year the accumulated foreign capital in Russian non-financial sector will be growing faster than in 2001-2002. This may be promoted by a decrease in interest rates of loans provided by non-residents to Russian enterprises and organizations.

According to the center, accumulated direct foreign investments surged by 12 percent in 2002. The leaders in the volume of accumulated investments in 2002 were Germany, Cyprus and the USA; their share was 44.9 percent in the structure of accumulated investments. The amount of accumulated investments from Germany added $2.06bn last year, while from the USA it dropped by 1.8 percent to $5.5bn and from Cyprus it increased by 6 percent.