Capital outflows from Russia slowed sharply in the second quarter, reflecting a combination of technical and seasonal factors and a lessening of political tension, economists said.
Large outflows in the first quarter of 2012 and the fourth quarter of last year also coincided with a fraught election period, marked by large opposition protests. The decline in outflows follows Vladimir Putin's re-election to the presidency in March.
Central Bank figures released this week showed that net private-sector capital outflows fell to $9.5 billion in the April-June quarter, down from $33.9 billion in the first three months of this year.
(Reuters)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
