OREANDA-NEWS According to the Central Bank, in January-August 2018, the private sector exported from Russia $ 26.5 billion against $9.6 billion for the same period last year

The growth rate of capital outflow from Russia continues to grow. If in January-July 2018, the country's private sector exported $21.5 billion (against $8.7 billion in the first seven months of 2017), then in January—August, the volume of capital outflow rose to $26.5 billion against $9.6 billion for the same period last year, the Bank of Russia reports.

Thus, the total volume of net capital exports by the private sector in the first eight months of 2018 was 2.76 times more than in January—August 2017. In January-July, the difference between the years was less than 2.5 times.

Initially, the Central Bank predicted that the outflow of capital from Russia in 2018 will be $19 billion, but the sanctions forced the regulator to raise the forecast to $30 billion.

Capital outflow is now formed not due to the repayment of Bank debts, but due to the growth of foreign assets of companies, follows from the statistics of the Central Bank. Oil prices have risen and exporters are storing additional revenue abroad.

At the beginning of September 2018, the Ministry of economic development more than doubled its forecast for capital outflow this year — from $18 billion to $41 billion.the Department noted that the tightening of monetary policy of the Federal reserve system of the United States and the strengthening of foreign trade restrictions had a negative impact on the propensity of investors to invest in developing economies.

This trend will continue if oil prices remain high, and the outflow of capital will decline, predicts the analyst: "the Outflow of capital from 2016 to 2019, according to our estimates, will be about $ 50 billion Is three and a half times less than it was in the four years before the crisis" youth

The indicator of net capital outflow "can not be identified with the illegal export or "flight" of capital, " said the head of the Central Bank Elvira Nabiullina