CBR: The inflow of foreign currency in the Russian Federation for the first time in two years fell to zero – Rosbalt.RU

 The inflow of foreign currency in Russia for the first two years of cheap oil has fallen to zero, from the data of the Bank of Russia published Monday.

 According to the materials of the Central Bank, the difference between currency flows into and out of it (balance of payments) for the second quarter was $ 3.4 billion. This is 2.5 times less than the forecasts, three times less than in the first quarter, and five times – a year earlier

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 At the same time in June, according to the statistics of the Central Bank, Russia for the first time spent more currency in 2014 than earned: the outflow of the current account amounted to $ 1.84 billion (a tributary of the April-May – $ 5.24 billion, the Central Bank reported earlier) .

 The CBR sees the main reason for this is called “a significant decrease in value of exports in terms of low commodity prices.” In addition, the purchase of imported goods, which are out to make money on foreign markets currency reduced significantly slower than skudeet revenue stream from the sale of natural resources.

 Thus, the total revenues from exports to May fell by 30.5%, oil revenue was less than 34.3%, gas – by 31.4%, while imports shrank by only 10.6%, and in some articles (eg , clothing and footwear) – and at up

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 The deficit of foreign exchange earnings led to a sharp (5 times) fall in the export of capital – the quarter it amounted to only $ 2.4 billion since the beginning of the year -. $ 10.5 billion The volume of doubtful cross-border transactions fell by 2.6 times – up to $ 300 million.

 According to Deputy Director of “Development Center” School of Economics Valery Mironov, in 2015, the Russian economy received less $ 150 billion due to the fall in oil prices, gas, and metals; this is still a drop by about a third.

 “Such large-scale reduction in foreign exchange inflows at the exhaustion of the reserve funds threaten tough restructuring of the budget, the stagnation of investments and other troubles for the economy as a whole. Non-commodity exports is very small and its growth can not quickly compensate for the reduction of raw currency earnings “, – quotes the expert Finanz.Ru

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