Net capital outflow from Russia drops significantly

Net capital outflow from Russia in the period of January-October 2016 declined to only $10.4 billion, news agency RIA Novosti reported, citing figures from the Central Bank of Russia.

The bank’s statement read: "It is estimated that net private capital outflow has decreased fivefold to $10.4 billion. Unlike last year, when the main purpose of the net outflow was for the banks to pay off their external debts, in the January-October 2016 period the main factor was the growth of foreign financial assets in various sectors.”

Net capital outflow in the 2018-2019 period is expected to be about $25 billion.

Minister of Economic Development Alexei Ulyukaev has said earlier that capital outflow from Russia will not exceed $15 billion.

First published in Russian by Gazeta.ru

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