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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Belarus: Industrial output records best reading since December 2019 in September
October 16, 2020
Industrial output grew 1.4% compared to the same month a year earlier in September, which contrasted August's 0.1% decrease.
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Kazakhstan: Decline in industrial output softens in September
October 16, 2020
Industrial output decreased 3.5% in year-on-year terms in September, which was a less pronounced drop than August's 5.6% decrease.
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Russia: Industrial output deteriorates in September
October 15, 2020
Industrial output slid 5.0% in year-on-year terms in September, which was a deterioration from August's 4.2% decrease.
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Russia: Merchandise exports fall at a steeper pace in August
October 13, 2020
Merchandise exports sank 32.3% year-on-year in August, following July’s 27.5% dive.
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Belarus: Inflation increases to over one-year high in September
October 11, 2020
Consumer prices rose 0.94% from the previous month in September, accelerating from August's 0.17% rise.
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