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Eastern Economic Forum

Russian cabinet, Central Bank drafting measures to limit capital outflow

The current account of balance of payments is recovering now, Maxim Oreshkin said

VLADIVOSTOK, September 11. /TASS/. Russia’s government and the Central Bank are developing a set of measures to limit capital outflow from the country, with some decisions already being taken, Presidential Aide Maxim Oreshkin told reporters on the sidelines of the Eastern Economic Forum (EEF).

"Much is being said about various measures that will facilitate its reduction. Obviously a set of those measures will be taken in the near future. The government and the Central Bank are addressing it now, with some decisions already being taken," he said.

The current account of balance of payments is recovering now, Oreshkin said. "Imports of goods and services will go down slightly by the end of the year, while exports will increase strongly as oil prices have recovered substantially: after falling to $50-55 per barrel the [price of] Russian export oil now stands at $70-75 per barrel. This recovery will lead to improvement of the current account," he explained.

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