Russia has lost more than a year's worth of GDP due to capital flight
For decades, the Russian economy has been facing a massive outflow of capital abroad. Over the past 25 years, the volume of this outflow has exceeded 100% of the country’s GDP, according to estimates by the Center for Macroeconomic Analysis and Forecasting (CMAFP), which is close to the Russian government.
According to the center’s estimates, over the past decade, the real sector of the Russian economy has lost about 3% of GDP annually due to capital outflows. On average over the past 30 years, total outflows have amounted to 4–5% of GDP per year.
The highest figure was recorded in 2022—over 12% of GDP. This occurred against the backdrop of Western companies exiting the Russian market and the departure of hundreds of thousands of citizens, who took their savings and proceeds from the sale of assets abroad.
This is reported by Russian propaganda media.
As a reminder, Russia is projected to face nearly a decade of economic stagnation.
The World Bank has downgraded its GDP growth forecast for Russia for 2026.
Russia’s military spending has risen sharply and exceeded the Kremlin’s plans, according to Der Spiegel.
