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Balance Of Payments: January–June 2016

Author

Listed:
  • Bozhechkova Alexandra

    (Gaidar Institute for Economic Policy)

  • Trunin Pavel

    (Gaidar Institute for Economic Policy)

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.

Suggested Citation

  • Bozhechkova Alexandra & Trunin Pavel, 2016. "Balance Of Payments: January–June 2016," Russian Economic Development, Gaidar Institute for Economic Policy, issue 8, pages 2-5, August.
    • Handle: RePEc:gai:recdev:recdev-2016-8-705
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    File Function: Revised version, 2016
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    More about this item

    Keywords

    INFLATION AND MONETARY POLICY; Russian Economy;

    JEL classification:

    • P24 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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