Balance of Payments in Q3 2023

Платежный баланс в третьем квартале 2023 г

Alexandra V. Bozhechkova, Alexander Yu. Knobel and Pavel V. Trunin
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Alexandra V. Bozhechkova: Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration
Alexander Yu. Knobel: Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration; Russian Foreign Trade Academy
Pavel V. Trunin: Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration

Russian Economic Development, 2023, issue 11, 4-7

Abstract: At the end of Q3 2023, the current account surplus fell 3 times compared to Q3 2022 against the backdrop of both a decrease in the value of exports and an increase in the value of imports. The financial account deficit was formed in the wake of the outstripping increase in foreign assets (including reserve assets) compared to the growth of foreign liabilities. These trends resulted in the weakening of the ruble. This being said, the ruble was supported by the tightening of monetary policy, as well as the suspension of foreign exchange purchases by the Bank of Russia within the framework of mirroring regular operations of the Finance Ministry of the Russian Federation.

Keywords: balance of payment; exports; imports; current account; ruble exchange rate; outflow/inflow of capital; Bank of Russia (search for similar items in EconPapers)
JEL-codes: E44 E58 F21 F31 F32 (search for similar items in EconPapers)
Date: 2023
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