CIS Countries Economic Forecast

Economic Snapshot for the CIS Countries

September 14, 2022

Russia-Ukraine War Economic Impact - Analysis & Special Reports

See our latest analysis in the Resources section

Economic Growth

The regional economy will shrink this year. International sanctions will cause a contraction in heavyweight Russia, while Ukraine’s economy will be devastated by the war. The fallout from the war will reverberate across smaller economies via soaring inflation, lower investment, and reduced trade and tourism . GDP will likely shrink further next year as the war drags on.

Inflation Outlook

Regional inflation eased fell to a four-month low of 15.5% in June (May: 16.2 %), chiefly on the back of moderating inflation in Russia. Similarly, price pressures eased in Georgia, Kazakhstan and Kyrgyzstan. In contrast, inflation picked up elsewhere, led by Ukraine and Moldova. Although regional inflation appears to be on the downtrend, the outlook remains volatile.

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