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was rather moderate in May ($2.3bn) despite the exit of some non-residents from OFZ,” analysts at Raiffeisenbank in Moscow said in a note.
Capital outflow eased in May, dropping to $2.3bn from $7.6bn in April.
Meanwhile, the Finance Ministry purchased nearly $5.4bn worth of hard currency during the month, up from $4bn in April. The current account data so far in 2018 has been in line with our forecast of a $117bn surplus for the year.
5.2.3 Capital flight dynamics
The Bank of Russia forecasts in 2018 the outflow of capital from Russia at $ 19bn against the previously expected $ 16bn, said at a press conference, Central Bank Chairman Elvira Nabiullina.
The forecast of the current account balance in 2018 increased from $ 43bn to $ 59bn, the forecast of foreign exchange reserves - from $ 35bn to $ 50bn.
RUSSIA Country Report July 2018 www.intellinews.com
