The Russian Ministry of Economic Development is re-evaluating its forecast of the influx of capital into Russia. The government organization now expects a net outflow by the end of 2011, but admits that there is still a chance of a minor influx that could be attributed to an increase of company borrowing, Minister Elvira Nabiullina noted.

The situation in the U.S. is certainly raising concerns, since it is affecting all nations, including Russia. The situation in Europe, which is Russia’s largest market, could also indirectly affect the rate of growth of Russian exports. When asked as to whether she agreed to certain legislative measures to constrict the flow of money in the country, such as providing retirement allowances to banking cards, the Minister explained: “The use of cash in Russia is considerable, but I don’t think that we should use such restrictive methods. As an alternative, we should create more access points for the use of cashless settlements. The development of the universal electronic card project is likely going to lessen the usage of cash.”