From Russia began to withdraw more money

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Photo: Emin Jafarov / “Kommersant”

The net outflow of private sector capital from Russia in January-April 2018, according to preliminary data, amounted to 21 billion to $ 17.9 billion in the same period of 2017. This is stated in the statistics of the Bank of Russia.

As noted in the materials of the regulator, unlike 2017 net lending “was carried out mainly due to the increase in foreign assets of other sectors with little impact of the operations of the banking sector”. According to the Central Bank, Russia’s international reserves in the period from January to April increased by 21.8 billion U.S. dollars, compared with 14.9 billion in January-April 2017.

In January, the Central Bank reported that the export of capital from Russia by private sector companies in 2017 amounted to 31.3 billion dollars — 60 percent more than in 2016 (19.8 billion dollars).

The main source of net capital exports of steel operations in the banking sector’s external liabilities. In January-February of 2018, the export of capital from Russia has increased in annual terms by 2.2%, to 9.8 billion.

Over the last 30 years, the outflow of funds from Russian economy exceeded one trillion dollars, said the Russian presidential adviser Sergei Glazyev. In his opinion, “the more flee the country, the greater the burden of taxation on those who remain”.

Video, photo All from Russia.

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