CIS Countries Economic Forecast

Economic Snapshot for the CIS Countries

June 8, 2022

Russia-Ukraine War Economic Impact - Analysis & Special Reports

See our latest analysis in the Resources section

CIS Plus GDP to shrink in 2022

Regional GDP is expected to shrink this year. The war will leave the Ukrainian economy devasted, while unprecedented international sanctions will push Russia into a sharp recession. Other regional economies will see falling remittances, reduced trade flows and spiraling inflation. A potential spillover of the war remains the major outlook risk.

Regional inflation to soar in 2022

Regional inflation jumped to 16.8% in April (March: 15.6%), marking the highest reading since our records began in February 2019 . This upturn was broad-based, with Moldova, Kazakhstan, Russia and Ukraine leading the pack amid soaring food and energy costs. Inflation should peak in Q2, although price pressures should ease somewhat in Russia. Risk are skewed to the upside.

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