Armenia
- GDP growth will remain solid in 2024 amid positive RU-UA war externalities and pushed up demand from Nagorno-Karabakh refugees
- Inflation will bounce back quickly with strong demand pressures still present
- Dram will moderately depreciate as external inflows normalize
Kyrgyzstan
- Kyrgyzstan continues to benefit from rerouting of Russian foreign trade
- Strong demand and administered price increases will keep inflation high in 2024
- The som will depreciate when the foreign trade normalizes and the ruble weakens
Tajikistan
- Benefits of positive spillovers from the RU-UA war will persist in the next few years
- Inflation is will increase in 2024 driven by strong demand
- Depreciation will accelerate alongside a weakening ruble
Read the forecasts in details on our Macro Portal.
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- Georgia (Feb 5)
- Kazakhstan (Feb 19)
- Rwanda (Feb 19)
