The Balance of Payments in Q1 2017

Monitoring of Russia's Economic Outlook. Moscow, IEP. 2017, No. 8, pp. 5-9

5 Pages Posted: 13 May 2017

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

Alexander Knobel

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

Pavel Trunin

Gaidar Institute for Economic Policy

Date Written: May 12, 2017

Abstract

In Q1 2017, the current account surplus increased significantly due to rising exports alongside a slower growth in imports. Growth of the positive current account balance was the main factor behind the ruble’s strengthening. At the same time, net capital outflow from the private sector also increased, boosted by purchases of foreign assets by banks. If oil prices and the ruble’s nominal exchange rate against major world currencies stay at their current levels, it may be expected that, in 2017, the ruble’s strengthening in real terms and further growth of the current account surplus will take place.

Keywords: Russian economy, balance of payments

JEL Classification: F32, F10, F13, F19

Suggested Citation

Bozhechkova, Alexandra and Knobel, Alexander and Trunin, Pavel, The Balance of Payments in Q1 2017 (May 12, 2017). Monitoring of Russia's Economic Outlook. Moscow, IEP. 2017, No. 8, pp. 5-9. Available at SSRN: https://ssrn.com/abstract=2967350 or http://dx.doi.org/10.2139/ssrn.2967350

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

Alexander Knobel

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

Russian Presidential Academy and Public Administration (RANEPA) - Institute of Applied Economic Studies ( email )

Vernadsky Ave. 82
Moscow, 119571
Russia

Pavel Trunin

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

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