Investor Alert

Dec. 10, 2007, 11:50 p.m. EST

Foreign Investment Rises in Russia

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MOSCOW -- Foreign direct investment to Russia will reach $45 billion by the end of 2007, Finance Minister Alexei Kudrin said, up from $26 billion last year and $13 billion in 2005.

He added that the ministry expects net capital inflows of between $75 billion and $80 billion by year end.

Most of the inflows, or $60 billion, came in the first half, with two large share issues by OAO Sberbank and OAO Bank VTB and major borrowing by OAO Rosnef, to pay for the assets of the bankrupt OAO Yukos.

He said Russia had failed to meet its target on inflation, with consumer prices set to rise between 11.5% and 12% this year.

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