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2012 FDI at $60Bln

The Economic Development Ministry estimated foreign direct investment in Russia would hit $60 billion in 2012, up from $56 billion in 2011, Economic Development Minister Andrei Belousov said at Thursday's meeting of the State Council, Interfax reported.

"Although we often criticize ourselves … regarding the quality of our investment climate, when considering overall investment attractiveness, Russia looks quite good among other countries," Belousov said.

He said Russia is ninth among the leading 20 countries for total FDI in 2011. "This bears in mind outflow of investment from emerging markets because of the debt crisis in Europe. Excluding this factor, Russia raised $263 billion in FDI in five years. This is No. 6 in the world and second to China among BRICS countries," the minister said. (MT)

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