Page 44 - RusRPTDec18

5.2.3 Capital flight dynamics
The net outflow of capital from Russia in January-October 2018 was up to $42.2bn, a three-fold increase from the $14bn that left Russia in the same period a year earlier, according to preliminary estimates from Central Bank of Russia (CBR), it was reported on November 12.
Approximately half of this amount is accounted for by operations of banks to repay external liabilities, the other half is due to business purchases of foreign financial assets. A quirk of Russian national accounts is that any money reinvested in the foreign businesses of foreign-based companies owned by Russian entities is counted as capital flight.
Earlier, the Central Bank reported that net capital outflow in January - September amounted to $31.9bn, suggesting that in October alone capital flight jumped to $10.3bn in the month.
44 RUSSIA Country Report December 2018 www.intellinews.com