Volume Of Foreign Direct Investments In Russia's Economy Growing

The volume of direct foreign investments in the economy of Russia will reach $6bn in 2002, compared to $5bn in 2001, Deputy Finance Minister of the Russian Federation Andrey Petrov declared at a symposium 'Investment Potential of the South of Russia' today. The problem of foreign investments becomes vary important in the situation of a possible oil price drop and a decrease in currency revenues. At the same time, the capital outflow from Russia needs to be stopped (it amounted to $24bn in 2001), Petrov added. This amount is about equal to Russia's currency proceeds and revenues from oil exports. At the same time, the official pointed out that investments in Russia's fixed capital had been growing over the last two years. They are expected to go up from 16.5% of the GDP as in 2000 to 17.9% in 2002.