Small Economies – CIS Region Award Winners

The FocusEconomics 10th Anniversary Analyst Forecast Awards celebrate a decade of recognizing the world’s most accurate economic forecasters. Below are the top three ranked forecasters for each indicator across the CIS region, covering 7 countries.

GDP

Country	1st Place	2nd Place	3rd Place
Armenia	S&P Global Market Intelligence Lilit Gevorgyan	BMI, a FitchSolutions Company BMI Research Team	Fitch Ratings Hannah Dimpker, Erich Arispe Morales
Azerbaijan	S&P Global Market Intelligence Lilit Gevorgyan	ING Dmitry Dolgin	FrontierView Nigar Jafarova
Belarus	FrontierView Nigar Jafarova	Oxford Economics Research Team	Euromonitor International Economies & Consumers Team
Georgia	Scope Ratings Dennis Shen, Thomas Gillet	S&P Global Market Intelligence Lilit Gevorgyan	Euromonitor International Economies & Consumers Team
Kyrgyzstan	S&P Global Market Intelligence Andy Birch	BMI, a FitchSolutions Company BMI Research Team	Oxford Economics Joshua Fisher
Moldova	WIIW Gabor Hunya	EIU Natalie Shteiman	OTP Bank Gergely Tardos
Uzbekistan	S&P Global Market Intelligence Andy Birch	Fitch Ratings Sagarika Chandra, Douglas Winslow	ING Dmitry Dolgin

7 countries

Inflation

Country	1st Place	2nd Place	3rd Place
Armenia	Fitch Ratings Hannah Dimpker, Erich Arispe Morales	Moody’s Analytics Research Team	EIU Natalie Shteiman
Azerbaijan	Fitch Ratings Erich Arispe Morales, Malgorzata Krzywicka	Oxford Economics Tatiana Orlova	ING Dmitry Dolgin
Belarus	BMI, a FitchSolutions Company BMI Research Team	FrontierView Nigar Jafarova	EIU Natalie Shteiman
Georgia	BMI, a FitchSolutions Company BMI Research Team	JPMorgan Nicolaie Alexandru	Euromonitor International Economies & Consumers Team
Kyrgyzstan	S&P Global Market Intelligence Andy Birch	BMI, a FitchSolutions Company BMI Research Team	EIU The Europe team
Moldova	S&P Global Market Intelligence Shuchita Shukla	OTP Bank Gergely Tardos	EIU Natalie Shteiman
Uzbekistan	OTP Bank Mihaly Kovacs	ING Dmitry Dolgin	EIU The Europe team

7 countries

Current Account

Country	1st Place	2nd Place	3rd Place
Armenia	Fitch Ratings Hannah Dimpker, Erich Arispe Morales	ING Dmitry Dolgin	S&P Global Market Intelligence Lilit Gevorgyan
Azerbaijan	JPMorgan Anatoliy Shal; Fatih Akcelik	S&P Global Market Intelligence Lilit Gevorgyan	Fitch Ratings Erich Arispe Morales, Malgorzata Krzywicka
Belarus	WIIW Dzmitry Kruk	Polish Chamber of Commerce Piotr Soroczyński	BMI, a FitchSolutions Company BMI Research Team
Georgia	Euromonitor International Economies & Consumers Team	S&P Global Market Intelligence Lilit Gevorgyan	EIU Natalie Shteiman
Moldova	S&P Global Market Intelligence Shuchita Shukla	OTP Bank Gergely Tardos	BMI, a FitchSolutions Company BMI Research Team
Uzbekistan	Fitch Ratings Sagarika Chandra, Douglas Winslow	S&P Global Market Intelligence Andy Birch	Oxford Economics Tatiana Orlova

6 countries

Fiscal Balance

Country	1st Place	2nd Place	3rd Place
Armenia	ING Dmitry Dolgin	EIU Natalie Shteiman	Fitch Ratings Hannah Dimpker, Erich Arispe Morales
Azerbaijan	Fitch Ratings Erich Arispe Morales, Malgorzata Krzywicka	ING Dmitry Dolgin	JPMorgan Anatoliy Shal; Fatih Akcelik
Belarus	WIIW Dzmitry Kruk	Oxford Economics Research Team	EIU Natalie Shteiman
Moldova	S&P Global Market Intelligence Shuchita Shukla	EIU Natalie Shteiman	WIIW Gabor Hunya
Uzbekistan	Oxford Economics Tatiana Orlova	JPMorgan Anatoliy Shal	Fitch Ratings Sagarika Chandra, Douglas Winslow

5 countries

Exchange Rate

Country	1st Place	2nd Place	3rd Place
Armenia	EIU Natalie Shteiman	Moody’s Analytics Research Team	BMI, a FitchSolutions Company BMI Research Team
Belarus	Oxford Economics Research Team	Polish Chamber of Commerce Piotr Soroczyński	WIIW Dzmitry Kruk
Moldova	EIU Natalie Shteiman	WIIW Gabor Hunya	NIER Moldova Zinovia Toacă
Uzbekistan	Fitch Ratings Sagarika Chandra, Douglas Winslow	BMI, a FitchSolutions Company BMI Research Team	ING Dmitry Dolgin

4 countries

Interest Rate

Country	1st Place	2nd Place	3rd Place
Armenia	ING Dmitry Dolgin	BMI, a FitchSolutions Company BMI Research Team	Oxford Economics Mateusz Urban
Uzbekistan	BMI, a FitchSolutions Company BMI Research Team	OTP Bank Mihaly Kovacs	ING Dmitry Dolgin

2 countries

Unemployment

Country	1st Place	2nd Place	3rd Place
Armenia	ING Dmitry Dolgin	EIU Natalie Shteiman	Fitch Ratings Hannah Dimpker, Erich Arispe Morales
Belarus	WIIW Dzmitry Kruk	Polish Chamber of Commerce Piotr Soroczyński	FrontierView Nigar Jafarova
Uzbekistan	Oxford Economics Tatiana Orlova	OTP Bank Mihaly Kovacs	S&P Global Market Intelligence Andy Birch

3 countries

Overall

Country	1st Place	2nd Place	3rd Place
Armenia	BMI, a FitchSolutions Company BMI Research Team	Fitch Ratings Hannah Dimpker, Erich Arispe Morales	EIU Natalie Shteiman
Azerbaijan	ING Dmitry Dolgin	Fitch Ratings Erich Arispe Morales, Malgorzata Krzywicka	FrontierView Nigar Jafarova
Belarus	Oxford Economics Research Team	FrontierView Nigar Jafarova	BMI, a FitchSolutions Company BMI Research Team
Georgia	Scope Ratings Dennis Shen, Thomas Gillet	BMI, a FitchSolutions Company BMI Research Team	Euromonitor International Economies & Consumers Team
Moldova	EIU Natalie Shteiman	WIIW Gabor Hunya	OTP Bank Gergely Tardos
Uzbekistan	ING Dmitry Dolgin	OTP Bank Mihaly Kovacs	Fitch Ratings Sagarika Chandra, Douglas Winslow

6 countries

Rankings determined by FocusEconomics’ proprietary accuracy methodology. Where two forecasters achieved equal accuracy, both are listed at the same rank.