Page 44 - RusRPTJul19

This corresponds with the previous report by bne IntelliNews, which noted that April balance of payments confirms the corporate preference to convert export proceeds into international assets, making foreign inflows into local state bonds the only support factor for the ruble exchange rate.
According to the Bank of Russia, the current account surplus of the balance of payments of the Russian Federation in 2018 reached a record value of $113.8bn ($33.2bn in 2017).
44 RUSSIA Country Report July 2019 www.intellinews.com