MOSCOW, January 16. /TASS/. Russian net capital outflows by banks and enterprises more than doubled in 2014 compared with the previous year, and reached $151.5 billion, the Central Bank said in a note published on its website.
In 2013, the capital outflow from Russia totaled $61 billion, the Bank of Russia reported.
Last year the financial regulator first provided currency liquidity for banks on a repayable basis, the press-service told TASS on Friday. “Thus, $19.8 billion of capital outflow is short-term,” the bank said.
External debt payments by banks and companies amidst falling capabilities for debt refinancing due to sanctions have become a huge trigger for the growth of capital outflow in the private sector in 2014, the Central Bank said.
“In 2015, we expect the volume of external debt payments to decrease, which must have a positive impact on the capital outflow indicators,” the bank’s press service said.
Russia's foreign trade surplus
Surplus of Russia's foreign trade went up by 2% to $185.6 billion in 2014, according to the Central Bank of Russia's preliminary estimate made public on Friday.
In 2013, the indicator was at $181.9 billion.
In October-December 2014, Russia's foreign trade surplus amounted to $37.5 billion, which was 17% smaller than in the previous quarter of the year.
Current account surplus in Russia rises by 67% in 2014
Russia’s current account surplus rose by 67% in 2014 to $56.7 billion, the Bank of Russia reported on Friday. This compares to $63 billion forecasted by the financial regulator.
In 2013, the current account surplus totaled $34 billion.