Economic Snapshot for the CIS Countries
January 12, 2021
Regional GDP should bounce back strongly this year, as economies emerge from the Covid-19-induced slump. Recovering household consumption is set to spearhead the upturn, amid the easing of lockdown measures as the vaccine rollout gains momentum throughout H1 . Expansionary fiscal policies and firmer foreign demand should further support the rebound.
CIS Countries Monetary & Financial Sector News
Regional inflation jumped to a 15-month high of 4.8% in November from 4.4% in October. The acceleration chiefly reflected rising price pressures in Russia and Ukraine. In contrast, inflation eased in Moldova and Uzbekistan. While preliminary data suggests regional inflation rose further in December, price pressures are seen easing slightly this year.
Central Banks in Georgia, Kazakhstan, Kyrgyzstan, Russia and Ukraine all stood pat in their December meetings. Meanwhile, policymakers in Azerbaijan trimmed the key policy rate again at the end of last year due to weak demand conditions, whereas the Central Bank of Armenia hiked the key policy rate in order to support the deprecating dram.
Most regional currencies were little changed or weakened against the USD in recent weeks. Notably, the Russian ruble and Ukrainian hryvnia lost some ground amid signs of a worsening health crisis, while currencies in Belarus and Kazakhstan weakened somewhat amid political instability. Regional currencies are seen strengthening slightly this year.
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5 years of CIS Countries economic forecasts for more than 30 economic indicators.
CIS Countries Economic News
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Russia: Industrial output rebounds in March
April 15, 2021
Industrial output rose 1.1% year-on-year in March, rebounding from February’s 3.2% drop and marking the first increase this year.
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Belarus: Inflation moderates in March
April 9, 2021
Consumer prices increased 0.69% in March over the previous month, coming in below the 1.94% rise logged in February.
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Ukraine: Inflation hits 19-month high in March
April 9, 2021
Consumer prices rose 1.70% over the previous month in March, picking up pace from the 0.99% increase logged in February.
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Russia: Merchandise exports rebound in February
April 9, 2021
Merchandise exports rose 2.0% over the same month last year in February, rebounding from January’s 12.3% year-on-year drop.
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Russia: Inflation hits highest level since November 2016 in March
April 7, 2021
Consumer prices rose 0.66% in March over the previous month, a smaller increase than February's 0.78% rise.
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