OGResearch Macro Portal Newsletter -- June 2026

‍Azerbaijan

• Growth will remain subdued as declining oil production weighs on the GDP
• External price pressures will keep inflation elevated temporarily
• The manat peg to the USD will remain firmly in place

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Ukraine

• Growth will remain stagnant until a lasting ceasefire allows post-war reconstruction
• Current supply shocks will push inflation up further, reversing the disinflationary trend
• The hryvnia will keep depreciating as the NBU relaxes FX restrictions

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Read the forecasts in detail on our Macro Portal.

‍-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------Forecast updates in June:

• Sierra Leone
• Madagascar

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