Ford drives hike in car production in Romania
1 day ago
The capital flight from Russia between January and July fell five-fold y/y to $10.9bn versus the $53.3bn that left in the same period a year ago, according to preliminary data released in a report by Central Bank of Russia (CBR).
Other estimates made by the CBR based on the balance of payments earlier put the capital flight in the period at $10.5bn, which suggests the capital flight in July was a mere $0.4bn.
According to the CBR’s baseline scenario that assumes an average oil prices of $38 per barrel for this year, capital outflow for the full year is expected to be on the order of $25bn-30bn in 2016 against $58.1bn that left in 2015.
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