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Net Capital Outflow from Russia Increased by 65.9%
11.10.2020 13:31
Net Capital Outflow from Russia Increased by 65.9%

According to preliminary estimates of the Central Bank, the net capital outflow from Russia by the private sector in January - September amounted to $ 35.5 billion. Compared to the same period last year, it grew by 65.9% - from $ 21.4 billion.

      “Unlike last year's dynamics, when banks' operations to reduce foreign debt and build up foreign assets were decisive, in the current period the key role was played by the reduction in liabilities to non-residents, both by banks and other sectors,” the statement says.

      According to the Central Bank, the net capital outflow of the private sector in 2019 amounted to $ 26.7 billion, in 2018 - $ 63 billion.

      Net outflow from funds investing in Russian assets and bonds this week amounted to $ 50 million against an outflow of $ 40 million a week earlier, BCS Global Markets reported earlier. Total losses since mid-June were nearly $ 0.5 billion.

Author: Anna Dorozhkina

Tags: Russian economy     

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