The Central Bank of Russia says that net capital outflow from Russia decreased fivefold.Panthermedia / Vostock-photo
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.