13.07.2016, 15:05
Net Capital Outflow from Russia Shows Almost 5-fold Reduction
OREANDA-NEWS. Companies and banks reduced their net capital outflow from Russia to 10.5 billion dollars which is almost 5-fold less against the same period last year, statistics of the Estimates of Balance of Payments of the Russian Federation for January – June 2016 says.
Capital outflow dynamics was mainly affected by a sharp reduction of external debt payments which was accompanied by a slight growth in demand for external assets from companies.
According to the Bank of Russia, the surplus of the current account of the Russian balance of payments in 2016 H1 totalled 15.9 billion dollars and turned out substantially less than last year (46.5 billion dollars in 2015 H1).
The current account was formed under substantial reduction of the total value of exported goods under moderate raw commodities prices against gradual recovery of imports and reduction of the balance of services and the balance of investment income deficit.
Capital outflow dynamics was mainly affected by a sharp reduction of external debt payments which was accompanied by a slight growth in demand for external assets from companies.
According to the Bank of Russia, the surplus of the current account of the Russian balance of payments in 2016 H1 totalled 15.9 billion dollars and turned out substantially less than last year (46.5 billion dollars in 2015 H1).
The current account was formed under substantial reduction of the total value of exported goods under moderate raw commodities prices against gradual recovery of imports and reduction of the balance of services and the balance of investment income deficit.
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