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Russia’s Central Bank worsens 2015 capital outflow forecast to $120 billion

December 11, 2014, 17:03 UTC+3 MOSCOW
In mid-November, the regulator worsened its forecast on capital outflow in 2014 from $90 billion to $128 billion
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Russia’s Central Bank

Russia’s Central Bank

© TASS/Artiom Korotaev

MOSCOW, December 11. /TASS/. The Russian Central Bank has raised its forecast on capital outflow in 2015 to $120 billion from $99 billion, Central Bank chief Elvira Nabiullina said on Thursday.

In mid-November, the regulator worsened its forecast on capital outflow in 2014 from $90 billion to $128 billion.

According to the latest forecast of Russia’s Economic Development Ministry, capital outflow may range from $90 billion to $120 billion in 2014.

In the first half of 2014, Russia’s capital outflow reached $74.6 billion, including $48.8 billion in the first quarter and $25.8 billion in the second quarter.

Russia’s Finance Ministry expects capital outflow at $60-80 billion in 2015 in a pessimistic scenario.

The ministry’s optimistic scenario assumes an oil price fall to $80 per barrel from peak levels while the pessimist scenario predicts oil prices to plunge to $60 per barrel.

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