BALANCE OF PAYMENTS: JANUARY–JUNE 2016

Alexandra Bozhechkova and Pavel Trunin

Russian Economic Development, 2016, issue 8, 2-5

Abstract: The BOP (Balance of Payments) data show that a current account surplus contracted considerably in H1 2016 over the same period previous year. This is because there were serious cutbacks in exports while the decline in imports slowed down. Despite growth in non-bank sector’s foreign asset holdings, there was a sweeping decline in net capital outflow in the private sector because banks and other sectors met their debt obligations at slower rate. As a result, the rouble appreciated as of the end of H1 2016, reaching a fundamentally substantiated level, although there are risks that it will depreciate.

Keywords: INFLATION AND MONETARY POLICY; Russian Economy (search for similar items in EconPapers)
JEL-codes: E52 P24 (search for similar items in EconPapers)
Date: 2016
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