MOSCOW, September 22 (RIA Novosti) - Russia's Central Bank said on Tuesday it expected net capital outflow in 2009 to hit $42 billion and inflation to come in below 12%.

It also said foreign exchange reserves would fall by $3 billion over the year. Russia had $410 billion in foreign exchange reserves on September 17.

These projections are contained in a blueprint for state monetary policy for 2010 through 2012, which will be considered at a Cabinet meeting on Wednesday.

The government expects to bring inflation in 2010 down to 9-10% and in 2012 to 5-7%.

Inflation was 13.3% in 2008.