Guidelines for the Development of the Russian Financial Market
Bank of Russia
RUSSIAN MACRO UPDATE
The Central Bank of the Russian Federation
ECONOMIC FORECASTS (2)
Baseline scenario*: medium-term outlook for the Russian economy
Baseline*
(Billions USD)
2017 (actual)
2018
2019
2020
Current account
40
59
39
23
Balance of trade
Exports
Imports
Balance of services
Exports
116
140
121
107
354
398
384
372
-238
-258
-263
-265
-30
-32
-32
-33
58
61
65
66
Imports
-88
-93
-97
-99
Primary and secondary income balance
-45
-50
-51
-52
Capital account
0
0
0
0
Balance of current and capital accounts
40
59
39
23
Financial account (except reserve assets)
-21
-9
-8
1
General government and central bank
Private sector
14
9
8
8
-35
-19
-15
-7
Net errors and omissions
4
0
0
0
Change in reserve assets ('+' means decrease, '-' means increase)
-23
-50
-31
-24
*As presented in Monetary Policy Report No.5 (March 2018)
Source: Bank of Russia
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