The Russian economy is the second month there is a mode actually missing the net inflow of foreign currency. This, according to Finanz.ru should macroeconomic financial statistics of the Central Bank of the Russian Federation.
In July, according to the Central Bank, balance of payments – the difference between the main monetary flows in and out of the country – amounted to only $ 400 million. This is 10 times less than in July last year, and 12 times less than the average over the past year.
But even this tiny income was completely eaten by the outflow of capital: the outflow of funds from the private sector for the month amounted to the same $ 400 million, and for the seven months increased to $ 10.9 billion.
“The dynamics of the current account was influenced by a more significant contraction of the trade balance in terms of the low prices for commodities Russian exports, partially offset by a reduction in the deficit on other items of the current account”, – commented the Central Bank.
In the end, according to respondents edition experts, get the total zero balance and develops “a very unpleasant trend” for the future of the ruble.
Meanwhile, a stable exchange rate, according to the analysts, supported by inflows on capital account – “hot money” speculators who come to the Russian market in search of higher yield.
The balance of payments also shows that the reduction of exports from Russia is much higher decline in imports: in the first six months, imports decreased by 9% year-on-year, while the decline in exports was 30%.
Soon the situation deteriorates and the current account will become negative for the first time since the third quarter of 2013. This will result in including the acceleration of capital outflows: foreign shareholders of Russian companies will begin to convert into foreign currency and paid abroad was received in July and August dividends.
