Capital investment was up by 20% through September yoy

Capital investment was up by 20% through September yoy, matching the 21% growth recorded for the same period last year. These are real growth increases, adjusted for inflation, according to the State Statistics Service. Capex highlights for January-September 2018: industrial investment up 25%; transportation – largely rail – up 43%; and extraction – oil, gas and iron mining – up 51%. Of investment, 73% was self-financed by companies, with bank loans accounting for only 7%. Dragon Capital writes: “Imposition of a 30-day martial law in selected regions following an escalation of tensions with Russia in the Sea of Azov, may hit business confidence and cause investment activity to slow.”