Net capital outflow for non-banking sector down 66.7% in Q2, 19% for banking sector - CBR
MOSCOW. July 10 (Interfax) - Companies not in the Russian banking sector lowered net capital outflow more than 66% in the second quarter to $8.8 billion versus $27.6 billion in the first quarter, according to preliminary data on Russia's 2014 balance of payments published on the Central Bank's website.
Net capital outflow by the non-banking sector was the lowest it has been in a year. In the third quarter of 2013 it was $21.3 billion, and in the fourth quarter - $20.3 billion.
Russian banks had net capital outflow of $17.1 billion in Q2, which is 19.3% less than Q1 ($21.2 billion). This was largely due to a $10.9 billion decrease in banks' foreign liabilities, which was the highest quarterly figure for the sector since Q1 2009 (down $19.3 billion).
Net capital outflow from Russia for all sectors of the economy totaled $25.8 billion in Q2, which is nearly 50% less than in the first quarter.