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    Moody's: 2% economic growth will be observed in CIS region and 3% next year

    CIS governments managed oil-price shock with increasingly orthodox policies, such as floating exchange rates and tight fiscal and monetary policies

    Baku. 12 January. REPORT.AZ/ All CIS sovereigns should grow slightly faster in 2017 than in 2016.

    Report informs referring to the statement by Moody's International Rating Agency on CIS.

    Moody's forecasts median growth to rise to 2.0% in 2017 from 1.0% in 2016, and a further rise to 3.0% in 2018. Somewhat higher oil prices are likely to enable policymakers in oil-exporting countries to partially roll back fiscal and monetary policy tightening, and oil importers will benefit from a modest pickup in remittance inflows.

    "CIS governments managed the oil-price shock with increasingly orthodox policies, such as floating exchange rates and tight fiscal and monetary policies. These have mitigated the effects of the collapse in oil prices, and positioned most CIS countries for a modest economic turnaround in 2017," said Kristin Lindow, a Moody's Senior Vice President and co-author of the report.

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