Russia will Lose an Estimated $60 Billion in 2016- Bank of Russia
Russia’s net capital outflow from January to November 2015 amounted to an estimated $53 billion. Experts believe that the outflow of capital from Russia in 2016 could reach nearly $60 billion. This forecast was announced by the head of the Department of Monetary Policy of the Bank of Russia, Igor Dmitriev, at the Gaidar Forum 2016, as reported by TASS.
"We don't expect a significant capital outflow in the coming year. Even under the risk scenario, it will be close to our 2015 numbers, about 60 billion (USD) according to the current scenario; though it could be even less," he said.
Dmitriev urged readers not to link the amount of capital outflow from the country with the revocation of banks' licenses by the Central Bank of Russia. "The main factor is still the external debt commitment," the representative of the Bank of Russia concluded.