Net capital outflow jumps 70% in H1, inflow seen in June - Central Bank
MOSCOW. July 11 (Interfax) - Net capital outflow from Russia grew 70% to $14.7 billion in H1 2017, from $8.6 billion in the same period of last year, the Central Bank said in an estimate posted on its website.
"In contrast to the situation in the year before, the driving factor determining the magnitude of net private capital outflows was the banking sector's transactions associated with funds' inflows to resident clients' accounts in the beginning of the year as well as an active repayment by banks of their external debt liabilities. Under the circumstances of recovery of economic activity, other sectors, alternatively, became net importers of foreign capital," the regulator said.
According to the Central Bank's data, $7.7 billion in capital flowed into Russia in June.
The Central Bank estimates net capital outflow from Russia will be $19 billion in 2017, $11 billion in 2018 and $14 billion in 2019.