September 29, 2017 / 2:00 PM / 22 days ago

Russia c.bank raises H1 capital outflow assessment to $16 bln

MOSCOW, Sept 29 (Reuters) - Russia saw a net capital outflow of $16 billion in the first half of 2017, up from $8.6 billion in the same period a year earlier, the central bank said on Friday.

Earlier this year, the central bank said net capital outflow was at $14.7 billion in the first six months of the year.

The central bank said on Friday net capital outflow increased as banks paid back foreign debt and also built up “external assets.”

The central bank’s revised data also showed that Russia ran a current account surplus of $25.4 billion in the January-June period.

This suggests Russia had current account deficit between July and August as the central bank had viewed the current account surplus at $20.5 billion in the January-August period. (Reporting by Andrey Ostroukh; Editing by Katya Golubkova)

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