The Central Bank has estimated capital outflow from Russia Russian News EN

Central Bank chief Nabiullina: capital outflow from Russia in 2022 amounted to $1 billion

Capital outflow from Russia in 2022 was $1 billion, the president said central bank Elvira Nabiullina. His words convey Interfax.

The Bank of Russia understands capital outflow as the withdrawal of money from the country “for questionable and suspicious reasons”. This figure in the regulator is estimated to be low. It should not be confused with the balance of the financial account, which in 2022 amounted to 227 billion dollars. A quarter of this amount is made up of trade credits and advances, and about 18% ($40 billion) is the payment of foreign debts. Also, many Russians opened accounts abroad to pay for imported goods.

Under current conditions, it is difficult for economists to accurately break down the final figure into components. “There are different components. If it is import advances, trade finance, it is not correct to call capital outflow, it comes back in the form of goods, etc. It is almost impossible to divide this value,” explained the head of the Central Bank, Nabiullina.

Associated materials:

Former Central Bank Analysts predictedthat the outflow of capital from Russia by the end of 2022 will reach 251 billion dollars (a year ago it did not exceed 74 billion). Over time, the figure is expected to decrease: in 2023 – to 124 billion, and in 2024 and 2025 – to 54 and 16 billion, respectively.

After the country’s net outflow of money in 2022 hit a record high since 2014, the Bank of Russia and the government imposed capital export restrictions. According to the president Vladimir Poutine, the measure reduced threats to the financial system and ensured its stability. As the situation improved, some restrictions were lifted or relaxed, noted He.

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