The outflow of Russian capital totaled only $12 billion in 2002, about $5 billion less than a similar amount in 2001, according to Finance Minister Alexei Kudrin.
Kudrin has attributed the change partly to tax reforms. "A record number of laws have been passed over the last three years that protect the rights of owners and investors. As a result, there is steady economic growth, rising average incomes and a reduction in the outflow of capital," Kudrin noted.