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recent events were nonetheless not impactful on the RTS index path.
Figure 18. VIX index (S&P500) and RTS volatility Figure 19. EMBI+Russia and
585 575 159 119 119 528 484 462 70 69 67 18 18 18 17 17 16
of which the City of
Moscow and Moscow
dollars)
2019 BASELINE
(estimate) 2020 2021 2022
Current account 71 47 30 18
Balance of trade 163 136 122 115
Exports 418 395 388 392