Abstract
The first quarter of 2020 saw the positive Russia’s balance of trade to plunge on the back of contraction of exports value amid plummeting crude oil prices with stabilized imports volumes. Due to the decline in foreign liabilities and growth of assets in foreign banks and enterprises, net capital outflow was observed in the private sector. In the contexts of negative external shocks, ruble’s exchange rate against dollar plunged by more than 20%.
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