CIS Countries Economic Forecast

Economic Snapshot for the CIS Countries

June 9, 2020

Economic activity  worsened drastically in 2020

The regional economy is seen contracting this year as containment measures hinder private spending and investment activity, while extinguished  external demand and compromised trade links dent exports. Russia, the regional heavyweight, will be battered by a weaker RUB   and low oil prices, which will reverberate across the region’s smaller economies via shrinking remittances.

CIS Countries Monetary & Financial Sector News

Regional inflation jumped to a five-month high of 3.8% in April (March: 3.3%), marking the second consecutive month of rising price pressures. Although the acceleration was broad-based, it was largely driven by quickening inflation in Russia due to a weak ruble. Defying the general trend, inflation eased in Azerbaijan, Moldova and Ukraine.

Policymakers in Belarus chopped their key policy rate to a record low in May, while most of the region's other central banks will meet later in June. Central Banks in Russia and Ukraine are seen slashing interest rates further in June to boost economic activity. In contrast, Kazakhstan’s Central Bank is set to hold the policy rate stable amid inflationary and FX risks.

 

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CIS Countries Economic News

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