Net capital outflow from Russia reaches $21 billion in four months
The net outflow of the Russian private-sector’s capital was estimated to be worth $21 billion from January-April 2018, showing a 17% growth compared to the same period last year, according to data from the Bank of Russia, which was published Monday, May 14.
“Unlike the previous year, net lending was mainly accomplished due to an increase of foreign assets in other sectors with little impact of banking sector operations,” a bank representative reported.
The capital outflow for the first four months of 2018 has already exceeded the Bank of Russia’s annual forecast. In March, a Bank of Russia representative presented an adjusted forecast which now foresees that $19 billion will be withdrawn by the end of the year. In 2017, the net outflow of the Russian private sector’s capital was $31.3 billion; in 2016 the figure was $19.8 billion.