CIS Countries Economic Forecast

Economic Snapshot for the CIS Countries

January 11, 2022

CIS Plus GDP to slow in 2022

Growth in the region is expected to moderate this year, on cooling household spending and investment activity growth. That said, sturdy global energy demand and easing supply disruptions should bolster exports, in turn boding well for overall activity in 2022. New Covid-19 strains and spiraling geopolitical risks across the entire region are key risks to the outlook.

Regional inflation likely peaked in 2021

Regional inflation jumped to 8.8% in November (October: 8.6%), marking the highest reading since our records began in 2018. The upturn was spearheaded by soaring inflation in Moldova, with prices in Armenia, Azerbaijan and Russia also rising at a faster pace. Inflation in most countries should have peaked at the end of 2021 and is expected to cool throughout 2022.

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