World Bank Official Comments On Export Of Capital From Russia

The export of capital from Russia is the result of weakness of the financial sector of our country, the chief economist of World Bank's representative office in Moscow reported in an interview with journalists today. According to him, two contradicting processes are going on in Russia now, i.e. capital outflow and growth of investments. There is a simple reason for that. "Those who earn money can't hand over it to those financial middlemen, who could further invest it in the economy," the official explained. "People don't see any decent way of spending their money in their country." Most of incomes belong to several major Russian companies, the economist said. Their incomes exceed their opportunities for making investments in our country. The main problem is that this money doesn't go to other spheres of the Russian economy. "They will be invested in Russia only if the company decides so, as there is no real financial middleman in Russia now."

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