According to the Central Bank of Russia, in July the current account deficit in the country amounted to $ 0.5 billion against a surplus of $ 0.2 billion in the same month of 2023. Preliminary information from the Russian regulator also indicates that this is the first case of a deficit since August 2020, that is, the balance deficit occurred for the first time in four years.
"The current account balance in July 2024 was about zero (-0.5 billion US dollars, in June 2024 +5.1 billion US dollars). The decrease in the current account balance is largely due to a seasonal increase in accruals for dividends announced by Russian companies and imports of services, as well as a slight decrease in the trade surplus," the Central Bank of Russia confirmed.
In August 2020, the economists of the Bank of Russia specified, the current account deficit was fixed at $ 1.4 billion. A year ago (by the end of June), the balance sheet went into negative territory due to the payment of dividends to various companies, but then it was clarified to a surplus.
According to official information, in January —July 2024, the account surplus reached $ 39.7 billion against $ 23.5 billion in the same period a year earlier.
EADaily also previously reported that the Russian regulator had revoked the license of American Express Bank.