CIS Countries Economic Outlook
2026 GDP growth in the CIS Plus region is forecast to hit a four-year low as a result of tighter fiscal policy vs 2025 and still-elevated interest rates in major regional economies. Moreover, the prolonged Russia-Ukraine war damaging energy infrastructure will further weigh on economic activity. Peace talks are key to monitor.
CIS Countries Inflation
In May, regional inflation declined from the prior month and remained below its 10-year average of 7.2% for a sixth successive month, hinting that price pressures in the region are on a downward trajectory after peaking at a three-year high in 2025. In 2026, regional inflation should hit a six-year low due to softer household spending growth and still-high interest rates.
This chart displays Economic Growth (Real GDP, ann. var. %) for CIS Countries from 2010 to 2025.
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Fixed Investment (ann. var. %) | 7.8 | 3.3 | 15.8 | 8.8 | 2.3 |
| GDP per Capita (USD) | 8,602 | 10,262 | 9,942 | 10,633 | 12,208 |
| Private Consumption (ann. var. %) | 9.1 | -2.3 | 8.0 | 7.5 | 4.6 |
| Merchandise Imports (USD bn) | 514 | 502 | 568 | 582 | 616 |
| Merchandise Exports (USD bn) | 713 | 835 | 652 | 666 | 646 |
| External Debt (% of GDP) | 37.4 | 28.4 | 28.5 | 26.6 | 25.6 |
| Current Account Balance (% of GDP) | 4.8 | 9.0 | 0.7 | 0.9 | -0.6 |
| Merchandise Trade Balance (USD bn) | 202 | 340 | 92 | 91 | 31 |
| Inflation (CPI, ann. var. %, aop) | 7.5 | 14.1 | 7.2 | 7.9 | 8.9 |
| Industrial Production (ann. var. %) | 5.7 | -1.4 | 4.4 | 4.7 | 1.6 |
| Public Debt (% of GDP) | 22.1 | 21.1 | 22.6 | 22.7 | 24.6 |
| Policy Interest Rate (%, eop) | 8.83 | 9.59 | 15.31 | 18.75 | 15.53 |
| Fiscal Balance (% of GDP) | -0.3 | -2.6 | -2.8 | -2.6 | -3.3 |
| Unemployment (% of active population, aop) | 5.6 | 4.4 | 3.8 | 3.8 | 3.4 |
| Economic Growth (Real GDP, ann. var. %) | 5.6 | -1.8 | 4.4 | 5.0 | 2.1 |
| International Reserves (USD bn) | 759 | 714 | 746 | 775 | 989 |