MOSCOW. March 29 (Interfax) - Unsanctioned capital flight from Russia will drop by about 40% by 2005, according to a forecast of Russia's economic development in 2003 and in the period up to 2005 that the Ministry of Economic Development and Trade prepared for a government session on Friday.
To accomplish this aim, it has been proposed in particular to amend the law On Currency Regulation and Currency Control to slow down processes encouraging capital flight and set up conditions for the efficient use of capital resources in Russia.
It is also planned to take other measures to enhance the financial transparency of major corporations' activity and create conditions for increasing the mobility of financial capital, reads the document.
The materials drafted by the Ministry interpret capital flight as the removal of money from Russia in violation of the law.