OGResearch Macro Portal Newsletter -- August 2026

 

August 5, 2026

‍Mongolia

  • Growth will remain strong, driven by copper production and expansive fiscal policy
  • Inflation will decline as supply shocks wane, but will remain above the target
  • Export revenues and financial inflows will keep the currency stable through next year

‍Uzbekistan

  • Growth will remain resilient, propelled by investment appetite and mining expansions
  • Utility tariff hikes will create a temporary increase in inflation
  • Som will stay stable in short term, but nominal depreciation is expected to resume in future

‍Angola

  • Growth will be limited as oil sector stagnates due to aging infrastructure
  • Inflation will remain in double digits in the long run due to poor economic management
  • Kwanza will remain stable for next several quarters, but will depreciate later on

Read the forecasts in detail on our Macro Portal.

‍--------------------------------------------------------------------------------------------------------------------------------------------------Forecast updates in August:‍

  • Moldova
  • Armenia

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