MOSCOW - Judging by macroeconomic indicators for the first half of 2002, the economy of the Commonwealth of Independent States (CIS) countries continues to stabilize – a tendency which has lasted for the past three years. The economic situation was rather favorable in January-June 2002, which led to a growth in manufacturing, high and steady satisfaction of consumer market, moderate inflation, improvements on the labor market, and an increase in real money incomes of the population. It also helped CIS countries maintain their national currency exchange rates at stable levels and draft their budgets with surpluses or small deficits. The strongest manufacturing growth among the CIS countries (except Turkmenistan and Uzbekistan who did not provide any information) was registered in Armenia. According to the Statistics Committee of the CIS, manufacturing grew by 12.1 percent in Armenia in January-June 2002 compared with the same period a year earlier.
Kyrgyzstan was the only CIS country to report a decline in manufacturing (by 13.6 percent). As for the other CIS countries, their manufacturing rose compared with the corresponding period last year. In Moldavia, manufacturing grew by 11 percent, in Kazakhstan – by 8.7 percent, in Tajikistan – by 7.9 percent, in Ukraine – by 5.8 percent, in Belarus – by 4 percent, in Russia – by 3.2 percent, in Azerbaijan – by1.5 percent, and in Georgia – by 0.1 percent.
On average, investments in fixed assets increased by 6 percent in the CIS countries in the first quarter of 2002, compared with the same period a year earlier, against a 9 percent rise in the first quarter of 2001. The highest rise in investments in January-June 2001 was reported in Azerbaijan, where investments increased by 101 percent. It was followed by Armenia (25 percent), Moldavia (12 percent), Ukraine (10 percent ), Kazakhstan (9 percent), Belarus (6 percent), Georgia (3 percent) and Russia (2 percent). In Kyrgyzstan, investments declined by 3 percent.
Retail sales volumes jumped by 9.2 percent in the first six months of 2002, on average, compared with the corresponding period last year. The highest rise in retail sales was reported in Moldavia – by 21.4 percent. According to the Statistics Committee, retail sales rose by 19.2 percent in Tajikistan, by 16.6 percent in Ukraine, by 15.3 percent in Belarus, by 14.2 percent in Armenia, by 8.9 percent in Kazakhstan and Azerbaijan each, by 8.2 percent in Russia, by 6.2 percent in Kyrgyzstan and by 1 percent in Georgia.
The average inflation in the CIS was 13 percent in January-June 2002. The highest rise in consumer inflation among the CIS countries (except Turkmenistan and Uzbekistan who did not provide any information) was reported in Belarus (45.6 percent). It is followed by Russia (9 percent ), Tajikistan (7 percent), Moldavia (6 percent), Georgia (5.9 percent), Kazakhstan (5.5 percent), Azerbaijan (2.3 percent), Ukraine (2.2 percent), Armenia (1.7 percent) and Kyrgyzstan (1.6 percent). Industrial product prices increased by 37.2 percent in Belarus, by 8.5 in Georgia, by 7.7 percent in Russia, by 5.6 percent in Kyrgyzstan, by 4.4 percent in Moldavia, by 4.3 percent in Tajikistan, by 3.1 percent in Armenia and by 0.9 percent in Ukraine. The prices decreased by 6.5 percent in Kazakhstan and by 5.8 percent in Azerbaijan. /RosBusinessConsulting/
21:25 [Monday 5th August, 2002]