The Economic Monitor, published every six months, provides a concise overview of the overall economic situation. Apart from general macroeconomic trends, current economic policy issues are also covered.
Ukraine experienced a sluggish economic recovery in 2021 driven by private consumption and a record agriculture harvest, but restricted by low investment. In 2022, Ukraine is forecast to grow moderately as well which is not enough to converge to its peers. The current key risk consists of an escalation of the tensions, caused by a massive build-up of Russian military activities close to Ukraine.
The Belarusian economy steered through 2021 well, mainly due to the good external situation. However, uncertainty remains high for 2022/2023, especially with regard to the effect of sanctions on the economy.
Moldova’s economy recovered strongly in 2021 reaching pre-crisis levels. For 2022, the outlook is marked by uncertainty due to high inflation. The restrictive monetary policy will likely dampen economic growth.