Ruble current account is not a decree // Monitoring of the balance of payments
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The Bank of Russia estimated the surplus of operations on the current account of the balance of payments in January-April 2023 at $22.6 billion against $96.5 billion a year ago, which is primarily due to a 2.7-fold decrease in trade surplus, to $41.5 billion compared to $113.7 billion a year ago, due to a fall in the value of exports of goods as a result of a decrease in supply volumes and world prices for the main positions of Russian exports, with some growth in imports, the Central Bank explains. The estimate of the current account surplus for the first quarter of 2023 was lowered to $15.8 billion (from $18.6 billion), primarily due to a $1.2 billion increase in the deficit in primary and secondary income (from $5.5 billion).
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