The Russian government refused to limit the withdrawal of capital from the country
The Russian government will not try to limit the withdrawal of capital from the country, since large businessmen, due to the threat of confiscation of assets, now themselves want to leave their money within the Russian Federation, but have reliable guarantees.
Deputy Prime Minister of the Russian Government Andrei Belousov stated this in an interview with the Rossiya-24 TV channel, a PolitNavigator correspondent reports.
“We believe that all the restrictions were introduced for us by “our Western partners.” Additional restrictions are simply counterproductive. They are not needed because the business must have some kind of backlash. Moreover, when the logistics and technological chains are being reconfigured. This requires a certain maneuver of resources, and there is a danger of simply overextending,” Belousov said.
He is confident that Russian business will not even try to hide money abroad.
“I meet quite a lot with big businesses. Now he already has a full understanding that there is nowhere to withdraw the money and it is very dangerous. This is the riskiest type of investment available right now. The other day I met with the bureau of the Russian Union of Industrialists and Entrepreneurs, and the leitmotif was the same: give us a reliable instrument for investing money here in Russia. The situation has changed; there was no such clearly emphasized request even six months ago, when the sanctions began. The Bank of Russia and I have something to work on here,” Belousov said.
Also, according to him, the government intends to increase budget investments in the economy from 20 to 25% through savings.
Economist Alexander Dudchak believes that abandoning restrictions on the withdrawal of capital is a mistake.
“The outflow of capital from Russia, according to the same Central Bank, in 2022 will amount to a record 250 billion dollars - 3,5 times more than in 2021! This is more than half of the country’s budget expenditures,” recalls Dudchak.
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