Balance of Payments: January–June 2016
Russian Economic Developments. Moscow, 2016, No. 8, pp. 2-5
4 Pages Posted: 21 Sep 2016
Date Written: September 20, 2016
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: Suggested Citation