The outflow of capital from Russia doubled

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Photo: Maxim Bogodvid / RIA Novosti

The export of capital from Russia in January-February increased in annual terms by 2.2 times and reached 9.8 billion dollars, follows from materials of the Central Bank.

The outflow was due mainly to the growth in foreign assets of other sectors, says the Bank of Russia. The surplus on the current account in January-February of 2018, increased from 14.5 to 20.8 billion dollars.

“The determining factor was the significant strengthening of the trade balance is influenced by the ongoing second consecutive year of export growth, outstripping the rate of recovery of imports. The positive balance of foreign trade increased in comparison with January-February 2017 at 7.4 billion dollars to 29.6 billion dollars with a slight increase in the total negative balance of other components of the current account”, — is spoken in the message of the Central Bank.

With international reserves of Russia for two months from the beginning of 2018 grew by 8.4 billion dollars to 23.7 billion dollars.

In January, the outflow of capital has dramatically increased 2.3 times compared to the same month of 2017. The regulator also indicated that the outflow was associated with the growth in foreign assets of banks and other businesses.

On 28 January, the Russian presidential adviser Sergei Glazyev said that the outflow of funds from Russian economy over the past 30 years have exceeded a trillion dollars.

According to Central Bank estimates, capital flight in 2018 will be about $ 16 billion. In 2019-2020 years, he will be reduced to 8-9 billion dollars.

Video, photo All from Russia.

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