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Regional Economic Outlook

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24 December 2025

EFSD Regional Economic Outlook. Winter 2025

The economies of the member states of the Eurasian Fund for Stabilization and Development (EFSD) maintained steady growth throughout 2022–2025; however, a slowdown is expected in the medium term against a backdrop of high inflation and intensifying external risks. Key tasks for most states in the region will include curbing inflationary pressures and ensuring long-term fiscal sustainability.

EFSD Regional Economic Outlook. Winter 2025

10 October 2025

AUTUMN'2025. Regional Economic Outlook

A significant trend in the region has been a more pronounced slowdown in Russia's economy in the first half of the year than it was initially expected. The cooling of the Russian economy has not yet had a significant effect on other economies in the region, except for Belarus, where the economic momentum has notably weakened.

AUTUMN'2025. Regional Economic Outlook

09 July 2025

Regional Economic Outlook. Summer’25

In early 2025, the region’s economies showed varying growth rates, shaped by both domestic factors and external conditions. The Kyrgyz Republic and Tajikistan recorded the strongest performance in Q1 2025, with GDP growth of 13.1% and 8.2% YoY, respectively.

Regional Economic Outlook. Summer’25

18 April 2025

Spring'25. REGIONAL ECONOMIC OUTLOOK

In 2025, most countries in the region—except Kazakhstan—are projected to experience slower economic growth amid weakening contributions from cyclical factors. Early signs of cooling have been observed in Russia’s economy since the beginning of the year. Growth is also decelerating in Armenia and Belarus, while economic activity remains robust in Kazakhstan, the Kyrgyz Republic, and Tajikistan.

Spring'25. REGIONAL ECONOMIC OUTLOOK

24 October 2024

FALL'24. REGIONAL ECONOMIC OUTLOOK

The EFSD continues publishing the regular series of Regional Economic Outlook (REO), which provides an analysis of current trends and medium-term prospects for the development of the Fund's member states in view of the main trends in the world economy. The medium-term outlook presented in the report also discusses the main risks and challenges to the macroeconomic sustainability of the EFSD member states.

FALL'24. REGIONAL ECONOMIC OUTLOOK

08 July 2024

Summer'24. REGIONAL ECONOMIC OUTLOOK

16 May 2024

SPRING'24. REGIONAL ECONOMIC OUTLOOK

The EFSD launches regular publication of the Regional Economic Outlook (REO), which analyses the current trends and medium-term prospects for the development of the Fund's member states in view of the key world economy trends.