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Balance of Payments in Q2 2022
[Платежный Баланс Во Втором Квартале 2022 Г]

Author

Listed:
  • 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)

  • Pavel V. Trunin

    (Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration)

Abstract

As of Q2-end 2022, the current account surplus went up 4.1-fold compared to the same period of the last year on the back of growth in the value of Russian exports amid high prices for commodities and reduction of imports under the sanctions. The deficit of the financial account of the balance of payments, including reserve assets, was formed resulting from the growth of foreign financial assets with a decrease of foreign liabilities. A significant role in the stabilization of the balance of payments and the foreign exchange market was played by strict capital flow restrictions put in place in Q1 2022, which were eased in Q2 2022 due to the rapid strengthening of the ruble to the level of H1 2015.

Suggested Citation

  • Alexandra V. Bozhechkova & Alexander Yu. Knobel & Pavel V. Trunin, 2022. "Balance of Payments in Q2 2022 [Платежный Баланс Во Втором Квартале 2022 Г]," Russian Economic Development, Gaidar Institute for Economic Policy, issue 8, pages 12-14, August.
    • Handle: RePEc:gai:recdev:r2265
    as

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    References listed on IDEAS

    as
    1. Knobel, Alexander, 2011. "Estimation of import demand function in Russia," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 24(4), pages 3-26.
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    More about this item

    Keywords

    balance of payment; exports; imports; current account; ruble exchange rate; outflow/inflow of capital; Bank of Russia;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F31 - International Economics - - International Finance - - - Foreign Exchange

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