OGResearch Macro Portal Newsletter -- December 2025

 

December 10, 2025

Moldova

  • Economic growth will rebound in the short term, driven by EU funds and energy sector investments
  • Inflation will ease towards the target as energy and food shocks dissipate
  • The currency will depreciate mildly when temporary foreign inflows fade

Sierra Leone

  • Growth will be robust, driven by mining sector expansion
  • Stronger demand and the dissipating effect of a good harvest will boost inflation
  • Depreciation will accelerate, reflecting high inflation and weak external fundamentals

Ukraine

  • Economic growth will stay weak, limited by war damage and labor shortages
  • Inflation will remain high, driven by utility reforms, tax changes, and high import costs
  • The currency will depreciate gradually to support strained public finances

Read the forecasts in details on our Macro Portal.

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Forecast updates in January:

  • Madagascar
  • Laos