Fed rate increase will not cause capital outflow from Russia, Minister of Finance says

A rise in the US Fed rate will not cause the problems with the outflow of capital from Russia, Finance Minister Anton Siluanov said.

"Despite the fact that American colleagues from the Federal Reserve announced raising of the rates and continuing of this policy, we do not see any problems for Russia from the point of view of the capital outflows, since Russia has a strong balance of payments and good budget," he explained. .

According to Siluanov, Russia is well-prepared and will benefit from the high growth rates and receive the additional benefits from the current situation, without fear of volatility of the capital flows, TASS reports.

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