Skyrocketing oil prices and falling imports are the main factors, experts say
Russia’s balance of payments surplus could hit a historic high this year, amounting to $200-$300 billion, business news outlet RBC reported on Monday. Economists polled by RBC have predicted record capital inflows into the country, despite the tightening Western sanctions.
They pointed to major factors behind the inflow, such as the increase in the value of Russian energy exports, and a reduction in merchandise imports to Russia by up to 50%.
“The key driver of the Russian balance of payments surplus [hydrocarbon exports] still looks confident,” the Institute of International Finance (IIF) said in its review, seen by RBC…READ FULL ARTICLE HERE… — RT Business News