Template-type: ReDIF-Article 1.0
Author-Name: Alexandra V. Bozhechkova
Author-Workplace-Name: Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration
Author-Name: Alexander Yu. Knobel
Author-Workplace-Name: Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration
Author-Name: Pavel V. Trunin
Author-Workplace-Name: Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration
Title: Current Account Balance Rose in Q1 2022 amid Record Capital Outflow
Title: Сальдо счета текущих операций в первом квартале 2022 г. выросло в условиях рекордного оттока капитала
Abstract: At the end of Q1 2022, the positive balance of trade in goods and services increased by more than 2.5-fold on the back of high commodity prices and ongoing significant export deliveries. Due to the geopolitical crisis and the imposition of sanctions, the private sector’s net capital outflow for Q1 2022 reached the highest level since Q4 2014. The freezing of international reserves forced the Bank of Russia to impose tight restrictions on capital movement, which made it possible to stabilize the ruble exchange rate.
Keywords: balance of payment, exports, imports, current account, ruble exchange rate, outflow/inflow of capital, Bank of Russia
Classification-JEL: E58, E44, F32, F21, F31
Journal: Russian Economic Developments
Year: 2022
Issue: 5
Month: May
Pages: 9-12
File-URL: http://www.iep.ru/files/RePEc/gai/recdev/r2240.pdf
File-Format: Application/pdf
Handle: RePEc:gai:recdev:r2240