The Central Bank raised the forecast for net capital outflows from Russia almost twice

© RIA Novosti / Alexei Sharecompat photobacteria in the USA. Archival photo<img src="/wp-content/uploads/sites/5/2018/09/10e0989bbf0602a2f19d3c4aa49c04ea.jpg" alt="The Central Bank raised the forecast for net capital outflows from Russia almost twice” />© RIA Novosti / Alexei Sharecompat the image Bank

The Bank of Russia raised its forecast for net capital outflow from Russia in 2018 to $ 55 billion from $ 30 billion in 2019 — up to $ 27 billion and up to $ 18 billion in 2020-2021 years, said during a press conference on Friday the head of the Bank of Russia Elvira Nabiullina.

«We increased the estimate of the negative financial account balance for the private sector in 2018 from $ 30 billion to $ 55 billion. Further, according to our forecasts, the balance of the financial account on the private sector declined markedly to $ 27 billion in 2019 and nearly $ 18 billion in 2020-2021 years», — said the head of the Central Bank.

«Proceeds on the current account significantly exceeds demand to the repayment of external liabilities, so the balance of payments does not pose a risk for exchange rate dynamics and macroeconomic stability in the forecast horizon,» Nabiullina added.

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