MOSCOW – Net capital outflow from Russia surged 2.1-fold to $21 billion in January-April 2017 from $9.8 billion in the same period of last year, the Central Bank said in an estimate, posted in its website.
“Unlike the situation in the preceding year, the current level of net private capital outflows was dominated by transactions of the banking sector to allocate funds abroad while banks’ foreign liabilities continued to decline. Other sectors, vice versa, were net importers of capital,” the Central Bank said.
It follows from the Central Bank’s data that capital outflow for April was $5.6 billion.
The Central Bank in March revised its 2016 capital outflow figures to $19.2 billion from $15.4 billion. Capital outflow for 2015 was $57.5 billion.
The Central Bank earlier forecast outflow for this year might slow to $12 billion and stay at around that level in 2018-2019.
The Economic Development Ministry estimates in its baseline scenario that capital outflow might be $8 billion-$10 billion annually in 2017-2018.
