9-month net capital outflow from Russia increased by 65.9% to $35.5 billion

AK&M 12 October 2020 20:53

Net capital outflow from the Russian Federation (the balance of private sector's financial transactions) in January-September 2020 increased by 65.9% year-on-year to $35.5 billion, according to information from the Bank of Russia.

As opposed to the previous year's dynamics when the result was dominated by banks' transactions aimed at reducing external debts and increasing foreign assets, this time, the primary driver was a reduction in liabilities to non-residents, both banks and other sectors, the Central Bank emphasizes.