NEWSWATCH: “Russia’s current account improves in 2015, capital outflows fall two-thirds” – Reuters

Reuters covers Russian financial positions.

Russia’s current account surplus improved in 2015 while net capital outflows fell by almost two-thirds, underscoring the role of a weaker rouble in mitigating the impact of a slide in oil prices.  Preliminary balance of payments data published by the central bank on Monday showed the current account surplus increasing to $65.8 billion in 2015 from $58.4 billion in 2014.  Net private sector capital outflows fell to $56.9 billion in 2015 from $153 billion in 2014. * * *  Although lower oil prices led to a sharp fall in export revenues last year, this has in part been offset by lower imports, as the weaker rouble and lower incomes led Russians to curtail spending on foreign goods.

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