Economic Snapshot for the CIS Countries
January 10, 2023
The regional economy will shrink again this year as war-related costs and international sanctions continue to hurt the Russian and Belarussian economies. While the rest of the region should experience growth, this will be capped by still-elevated inflation and the downturn in important trading partner Russia. Additional spillover from the war in Ukraine is the key risk.
Regional inflation fell to 13.4% in November from 14.0% in October on easing price pressures in all countries barring Azerbaijan, Kazakhstan and Uzbekistan. Regional inflation should decline in 2023 but will be elevated by historical standards. FX swings—particularly in Russia—geopolitics, commodity prices and monetary policy trends are key factors to watch.
5 years of CIS Countries economic forecasts for more than 30 economic indicators.
CIS Countries Economic News
January 16, 2023
Industrial output shrank by 3.2% year on year in December, worsening from November’s 2.6% contraction.
January 13, 2023
Inflation came in at 11.9% in December, which was down from November’s 12.0%.
January 12, 2023
Inflation eased to 12.8% in December, following November’s 13.3%.
January 9, 2023
According to a preliminary reading, GDP slid at a slower rate of 30.8% year on year in the third quarter, an improvement from the 37.2% contraction tallied in the second quarter. Although a comprehensive sector-by-sector breakdown has not yet been released, the downturn will likely have been broad-based as a direct consequence of the full-scale invasion by Russia.
January 4, 2023
Inflation increased to 20.3% in December, above November’s 19.6%, the 12th straight month of increase.
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