Page 92 - RusRPTMar23

2020.10
Russia’s current account surplus sank by 58.2% on the year to $8bn in January, the central bank said in a statement on February 9 quoting preliminary data. In 2022, Russia’s current account surplus almost doubled to $227.4bn.
Key Aggregates in details:
● a decisive role was played by a significant decline in the surplus of balance on goods and services resulted from decrease in the value of exports of goods;
● a reduction in total deficit in primary and secondary income was mainly related to drop in investment income accrued in favor of non-residents;
● the financial account surplus of the balance of payments was formed by both the reduction in liabilities to non-residents and growth in foreign financial assets.
In 2023 the surplus is expected to shrink to $100bn, although that is still high by historical standards.
92 RUSSIA Country Report March 2023 www.intellinews.com