Net capital outflow from Russia over the 11 months amounted to $53 billion


Moscow. December 9. Net capital outflow from Russia in January-November amounted to $53 billion, shows the preliminary assessment of the Bank of Russia.

The Central Bank stated that the outflow of capital has decreased more than twice compared to the comparable period last year ($118,7 billion).

“His level was formed mainly in the first half of 2015 due to the operations associated with the repayment of external obligations by banks and increased foreign assets from other sectors. The amount of net capital export of private sector in the second half of this year was at the minimum in recent years the level on the background of significant reduction of foreign debt repayment and contraction in net demand for foreign assets,” – said in a press release on the website of the regulator.

As follows from statistics of Bank of Russia, capital outflow in November was at the level of $2.8 billion Previously, the Central Bank has improved the forecast for capital outflow for this year to just over $70 billion from $85 billion.

The Finance Ministry expects that by the end of the year capital outflow will amount to $60-65 billion.

The Ministry of economic development expects capital outflow in 2015 will be below $70 billion, creating quite a comfortable situation for the ruble. “There is a high degree of dependence between the exchange rate and market conditions oil prices. Although it is not necessary to lose sight of the impact of capital account, the dynamics of inflow-outflow of capital. We now see that the situation with the real dynamics (churn) is much better than it was predicted. 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 even a little less,” – said earlier the Minister of economic development Alexei Ulyukayev.

By the end of 2014 net capital exports amounted to the sum of $154.1 billion.