Page 40 - RusRPTOct19

5.2.2 Current account dynamics
The CBR published preliminary current account estimates for 8m19 showed a surplus of $54.4bn for the period, up from $51.4bn in 7m19 but below the $64.2bn surplus registered in 8m18.
Net capital outflow from the private sector reached $26.1bn in 8m19,
down from $28bn in 7m19 and implying almost $2bn of inflow in August. The inflow of foreign investment in the public sector reversed in August, as nonresidents sold $0.3bn of OFZs, marking the first outflow since the start of the year.
The CBR bought another $4.6bn of FX in August (taking the 8m19 total to almost $38bn), which corresponds with the increase in FX reserves. The latest figures are in line with the full-year current account surplus forecast of $86bn, assuming that Brent continues to average $66/bbl.
40 RUSSIA Country Report October 2019 ww.intellinews.com