CBR lowers estimates of export receipts and foreign trade surplus

MOSCOW, July 21 (Reuters) – The Central Bank upheld its mid-term Urals oil price forecast but lowered its export earnings forecast and downgraded its foreign trade surplus forecast. Below are estimates of Russia’s balance of payments (in billions of dollars, unless otherwise indicated). Previous ratings are in parentheses. 2022 2023 2024 2025 2026 (actual) Average oil price 76 55 55 55 55 Urals, $/bbl (55) (55) (55) Current account 236 26 30 32 31 (47) (38) (35) Trade balance 314 97 105 110 1 11 (1 17) (111) (110) Export 591 414 424 439 453 (435) (437) (444) Import 277 317 318 329 342 (318) (326) (334) Financial account 238 29 28 33 36 (unchanged (53) (4 5) (38) reserve assets) Change in reserve assets -7 -6 2 -1 -5 assets (-8) (-7) (-2) (Elena Fabrichnaya, Anton Kolodyazhny, Marina Bobrova. Editor Dmitry Antonov)