* $13 bln leaves Russia in Jan after $38 bln outflow in 2010
* Investors may be rattled by election year, higher taxes
(Adds detail, comments)
MOSCOW, March 4 (Reuters) - Some $13 billion left Russia in capital outflows in January, RIA news agency quoted the central bank's first deputy chairman Alexei Ulyukayev as saying on Friday.
Outflows of from Russia took place even as oil prices
rallied to levels of $100 per barrel [O/R], propping up the
rouble
Capital has fled the country as investors hedge risks ahead of presidential elections due in 12 months' time, Finance Minister Alexei Kudrin said earlier this week. [ID:nLDE7220XZ]
Outflows may have been also prompted by Russia's budget policy, which envisages increasing spending and needs higher incomes to fill its coffers. Social security levy was raised to 34 percent from 26 percent effective from Jan. 1.
"There was a rapid increase in the social security tax and capital outflow reflected business' concerns that the government may continue increasing tax burdens," said Natalia Orlova, chief economist at Alfa Bank.
"I do not think that capital outflows were caused by inflation or fluctuations in the rouble exchange rate."
Russia expects to see modest capital inflows this year after net $38 billion left the county in 2010.
Speaking on the sidelines of central bankers forum in Paris,
Ulyukayev also said on Friday that in the first four days of
March the central bank purchased around $1 billion in
interventions aimed at easing upside pressure on the oil-boosted
rouble
(Writing by Andrey Ostroukh; Editing by Ron Askew)