Economic Snapshot for the CIS Countries
January 12, 2021
CIS Plus GDP to rebound in 2021
The CIS Plus GDP is expected to rebound in 2021, on easing lockdown measures as Covid-19 vaccines are gradually rolled out. Healthier domestic demand in heavyweight Russia, stronger remittance inflows for smaller economies and firmer external demand should be the key drivers. That said, geopolitical tensions, new Covid-19 strains and slow vaccine rollout cloud the outlook.
Regional inflation hits high
Regional inflation jumped to 6.6% in May (April: 6.1%), marking the highest reading since our records began in 2018. The acceleration was broad-based and driven by soaring food prices and input costs, with Belarus, Tajikistan and Ukraine recording the largest price growth compared to April. In contrast, price pressures eased in Armenia. Inflation is seen peaking in June.
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CIS Countries Economic News
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Kazakhstan: Central Bank hikes rate by 25 basis points in July
July 26, 2021
At its meeting in late July, the National Bank of Kazakhstan (NBK) decided to hike the base rate by 25 basis points to 9.25%, keeping the corridor at plus or minus 1.0 percentage point.
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Russia: Industrial output growth loses pace in June
July 23, 2021
Industrial production grew 10.4% year-on-year in June (May: +12.3% yoy).
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Russia: Central Bank delivers sharpest rate hike in over six years in July
July 23, 2021
At its meeting on 23 July, the Board of Directors of the Central Bank of the Russian Federation (CBR) raised the key interest rate by 100 basis points to 6.50%.
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Ukraine: Industrial output growth slows in June
July 23, 2021
Industrial output expanded 1.1% compared to the same month of the previous year in June, moderating from May's 5.4% increase.
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Ukraine: NBU raises rates unexpectedly in July
July 22, 2021
At its 22 July meeting, the National Bank of Ukraine (NBU) raised its key policy rate by 50 basis points to 8.00%, surprising market analysts who had expected rates to be held.
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