The situation with the real dynamics of capital movements is much better than expected, said the head of the Ministry of economic development. According to him, the overall balance of payments remains balanced.
MOSCOW, 7 Dec. Capital outflow from Russia in the current year will be below $ 70 billion, says the head of the Ministry of economic development of Russia Alexei Ulyukayev.
The Central Bank and the MAYOR of the Russian Federation earlier has lowered 2015 forecasts for the outflow of capital from the country – to just over 70 billion dollars from 85 billion dollars to 72 billion dollars from 87 billion respectively. The Finance Ministry lowered its forecast to 60-65 billion dollars.
“We see now that the situation with the real dynamics (the movement of capital – ed.) is much better than predicted, and we and the Central Bank has improved its expectation for capital outflow this year. I think that it will not exceed $ 70 billion, will be slightly less even, and remarkably, overall balance of payments remains balanced overall, this creates quite a comfortable situation for the exchange rate,” Ulyukayev said in an interview with TV channel “Russia 24”.
According to preliminary data of the Central Bank, net capital outflow from Russia in January-October of 2015 has dropped by more than half compared with the same period last year to 50.2 billion dollars.