The central bank anticipates that the gross domestic product will be flat in 2015. Central bank Governor Elvira Nabiullina believes the economy will remain stable despite the “unfavorable” conditions of $80 oil and sanctions that will run through the end of 2017.
More international investors, though, are already calling it quits, with $130 billion in expected capital outflows from Russia this year, the highest level since 2008, the Moscow Times reports.
However, some traders have been moving into Russia ETFs to try and time a possible rebound, with RSX attracting $1.25 billion in assets year-to-date, according to ETF.com data.
Market Vectors Russia ETF
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Max Chen contributed to this article.