Putin: Since 1999 capital outflow in Russia decreased by over 50%

Since 1999 capital outflow in Russia has decreased by over 50 per cent - from $24.8 billion to $11.2 billion in 2002, Russian President Vladimir Putin stated at a press conference in the Kremlin.

"Conditions favourable for investment are currently being created in Russia," the Russian Head of State pointed out.

Russia's second largest investor is Cyprus preceded by Germany, Vladimir Putin stated. "I am convinced that this is return of the money previously taken out of Russia," the President stressed.

He recalled that capital flows to the place, where it can be best used and "our main objective was to create such conditions without crying over its outflow".

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