Hatred of Russia made her a magnet for money – Forbes

Russia has the largest inflow of foreign portfolio investment compared with other emerging markets, writes the American Forbes magazine, reports the new York times.

“The hatred of Russia as the object of investment may this year prove to be very unproductive, as well as in the past, when the growth index of Russian companies, small and medium capitalization was in excess of 95 percent,” says the magazine.

The publication notes that Russia became the largest oil and gas producer, surpassing Saudi Arabia.

The magazine writes that at the moment Russia has become the most popular emerging market in terms of inflows of foreign capital relative to market capitalization.

“In a changing world of brexia, trump, elections in Italy, France and Germany, we believe that Russia is a very good place among emerging markets,” said Daniel Salter, head of global investment strategies in the Renaissance.

Western sanctions and negative media coverage are unable to force investors to turn away from Russia.

“If you forget about politics, it will become evident progress on the economic front. This is what made Russia a magnet for money this month”, – writes the edition.

The magazine also highlighted the progress of Russia in the fight against inflation and the stability of the ruble and reduce capital flight.

We will remind, in the beginning of this month, the dollar in Russia has fallen below 60 percent for 2015. Recently it was reported that Russia will double the reduction of oil production.

Meanwhile, Russian President Vladimir Putin predicts the growth of demand for oil and gas in the world.