Balance of Payments: January–June 2016

Russian Economic Developments. Moscow, 2016, No. 8, pp. 2-5

4 Pages Posted: 21 Sep 2016

See all articles by Alexandra Bozhechkova

Alexandra Bozhechkova

Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research

Pavel Trunin

Gaidar Institute for Economic Policy

Date Written: September 20, 2016

Abstract

The BOP (Balance of Payments) data show that a current account surplus contracted considerably in H1 2016 over the same period previous year. This is because there were serious cutbacks in exports while the decline in imports slowed down. Despite growth in non-bank sector’s foreign asset holdings, there was a sweeping decline in net capital outflow in the private sector because banks and other sectors met their debt obligations at slower rate. As a result, the rouble appreciated as of the end of H1 2016, reaching a fundamentally substantiated level, although there are risks that it will depreciate.

Keywords: Russian economy, balance of payments

JEL Classification: P24, E52

Suggested Citation

Bozhechkova, Alexandra and Trunin, Pavel, Balance of Payments: January–June 2016 (September 20, 2016). Russian Economic Developments. Moscow, 2016, No. 8, pp. 2-5. Available at SSRN: https://ssrn.com/abstract=2841182 or http://dx.doi.org/10.2139/ssrn.2841182

Alexandra Bozhechkova (Contact Author)

Gaidar Institute for Economic Policy ( email )

Gazetny pereylok 3-5
Moscow, 125993
Russia

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research ( email )

Russia

Pavel Trunin

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

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