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UN revises economic growth forecast for CIS countries

19 September 2026 11:02 (UTC +04:00)

The United Nations (UN) has lowered its economic growth forecast for the Commonwealth of Independent States (CIS) and Georgia, APA-Economics reports.

According to a report by the UN Department of Economic and Social Affairs (UN DESA), the region's economy is expected to grow by 1.8% in 2026 and 2.2% in 2027.

In its report released at the beginning of the year, the UN had projected economic growth of 2.1% for the CIS and Georgia in 2026 and 2.5% in 2027. Thus, the UN has lowered its forecasts for both years by 0.3 percentage points.

The downward revision comes amid differing economic trends across the countries of the region. The UN states that economic growth remains weak in Russia and Ukraine, while strong economic activity continues in the Caucasus and Central Asian countries.

In particular, Russia's economic growth forecast for 2026 has been lowered from the previous 1% to 0.5%. The UN notes that disruptions to domestic fuel supplies and oil and grain export opportunities, tighter sanctions, labor shortages, and restrictive monetary policy are negatively affecting economic activity in Russia.

In Ukraine, electricity shortages and damage to port infrastructure are limiting economic activity. The UN expects the country's economy to grow by less than 1% in 2026.

Meanwhile, most countries in the Caucasus and Central Asia maintained strong economic growth rates in the first half of 2026, despite logistical challenges related to the conflict in the Middle East and rising fuel import costs.