Capital outflow from Russia continues
According to Emerging Portfolio Fund Research (EPFR), in one week, May 12 - 18, 2016, the net outflow from funds investing in Russian equities totaled $17.4 million as compared to $137.1 million outflow in the previous week. The Emerging Portfolio Fund Research (EPFR) is an organization that provides fund flow and asset allocation data, RIA NOVOSTI reports.
Earlier in May the Bank of Russia publicized statistics indicating that the net outflow from the Russian Federation totaled $12.8 billion for the first four months of this year according to preliminary estimates.
When compared to 2015 results, the net outflow of capital by the private sector totaled $56.9 billion as compared to $153 billion in 2014.
At the end of April, the Russian Ministry of Economic Development published a scenario according to which the net outflow of capital from Russia will be $40 billion for 2016 and will drop to $30 billion in 2017. The forecast of the Ministry for 2017 - 2019 was approved at the governmental session on the 21st of April. As was estimated by the Ministry of Economic Development, capital outflow may decline to $25 billion in 2018 and to $20 billion in 2019.