Russian 1st Half Inward Investment Up 25.2%

ChrisD(RJ) chrisd at russiajournal.com
Mon Aug 12 05:46:59 PDT 2002


Russian 1st Half Inward Investment Up 25.2% On Year To $8.4 Billion August 12, 2002

MOSCOW -(Dow Jones)- Foreign investment into Russia rose 25.2% to $8.4 billion in the first half of 2002 from a year earlier, Russian State Statistics Committee, Goskomstat, reported Monday.

These figures don't include bank lending or investments generated in Russia and reinvested.

Russian companies have accumulated $38.1 billion of foreign investments as of July 1.

Of the total inward investment, some 48.7% came in the form of direct investment, 47.5% in the form of trade financing and other loans from international financial institutions and only 3.8% as portfolio investment.

The biggest sources of investment were Germany, which spent $1.63 billion and the U.K. with $906 million. U.S. investment totaled $554 million.

Investment from Cyprus, the traditional home for Russian citizens' offshore accounts, totaled $1.12 billion in the first half. A further $645 million came from Luxembourg and $355 million from Switzerland, two other favored tax havens.

However, these were offset by the outflow of $2.1 billion in funds to Cyprus and another $702 million to the British Virgin Islands.

Agency Web Site: http://www.goskomstat.ru



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