OGResearch Macro Portal Newsletter -- January 2021

January forecast highlights:

Armenia

• Recent economic performance worse than expected
• War and the second wave of COVID imply worsened fiscal path
• Situation remains manageable, but risks have increased

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Kazakhstan

• Fiscal stimulus and investment in the oil sector will support recovery
• Inflation will decline gradually
• Exchange rate pressures have eased recently

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Forecast schedule:

January full updates:

• Armenia
• Kazakhstan

Coming in February:

• Azerbaijan - Feb 1
• Haiti - Feb 15
• Uzbekistan - Feb 1

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