Russia's 2017 capital outflow totals 31.3 bln USD: central bank
Xinhua,January 18, 2018 Adjust font size:
MOSCOW, Jan. 17 (Xinhua) -- Russia saw a net private capital outflow of 31.3 billion U.S. dollars in 2017, up from 19.8 billion U.S. dollars in 2016, the central bank said in a report published on Wednesday.
According to the report, the net outflow was mainly caused by the banking sector's operations to pay off external liabilities, which is different from the situation last year.
The report showed that the net capital outflow of banks amounted to 28.6 billion U.S. dollars, much higher than the 2.7 billion U.S. dollars in other sectors.
The net capital outflow of Russia's private sector has skyrocketed since 2008 and reached its peak in 2014 with an amount of 152.1 billion U.S. dollars before dropping sharply in the last three years, according to the central bank's statistics. Enditem