Russian Ministry of Economic Development (MED) estimates the decline of fixed assets investments will decelerate from 2.5% year-on-year in the second quarter to 2.2% and 1.7% in the next two quarters respectively, says the Ministry’s revised macroeconomic forecast for 2014-2017.
In the first quarter, the indicator was also in decline recorded at 4.8%
The MED expects a sharp contraction of outflow in Q2-4 following the $63.7 billion figure in Q1 the estimates are $7 billion, $9 billion and $10 billion respectively).
The figures do not account for foreign exchange swaps and transactions with correspondent accounts of resident banks with the Central Bank of Russia.