A series of the world's largest corporations have left or reduced the scale of their operations in Russia, after the Russia-Ukraine conflict broke out in February 2022.
Citing data from the Central Bank of Russia , the state news agency RIA (Russia) reported on May 29 that foreign investors - who left Russia after selling their businesses - withdrew about 36 billion USD from Russia in the period from March 2022 to March 2023.
A series of the world's largest corporations have left or reduced the scale of their operations in Russia, after the Russia-Ukraine conflict broke out in February 2022.
Last week, the Russian Central Bank downplayed the impact of the drop in foreign capital flows, saying that around 200 asset sales had been completed since March 2022, and only 20% of them involved large transactions worth over $100 million.
Preliminary data from the Russian Federal Statistics Service (Rosstat) shows that the country's gross domestic product (GDP) in the first quarter of 2023 decreased by 1.9% compared to the same period last year. Previously, Rosstat said that Russia's GDP in 2022 had decreased by 2.1%.
Also according to Rosstat, domestic consumer prices have increased by 0.09% since the beginning of May and by 2.15% since the beginning of this year.
Earlier this month, the Russian ruble rose to more than 77 rubles per dollar, its highest level in more than a month, as oil prices began to recover.
The Russian currency benefited from high oil prices throughout April, contributing to increased revenues for Russian exporters./.
Source
Comment (0)