The head of the investment division in emerging markets at UBS Wealth Management, Michael Polydor, noted that a multitude of global factors influence the growth forecast of the economies of the Commonwealth of Independent States and the cooperation of Arab states in the Persian Gulf. Among them are rising oil prices and OPEC decisions, as well as other positive factors such as stimulating measures in China, monetary policy, and reduction of mandatory reserves. All these factors, according to Polydor, will be sufficient for global markets and the economy to move towards recovery.
He explained that these factors will have both direct and indirect effects on the productivity of the economies of the CIS, which is expected to maintain its positive trajectory. Polydor also pointed out that decisions of the Federal Reserve System of the USA regarding monetary policy will also influence the global economy in the coming years, suggesting a reduction in rates by 150 basis points by the end of 2025.
During a press conference held via video conference, Polydor stated: "Optimistic prospects for the growth of the CIS economy are significantly related to the forecasts of the International Monetary Fund, published only a few days ago". It should be noted that the IMF recently confirmed its projections regarding the growth of the CIS's gross domestic product by 4% by 2024, which exceeds the indicator of 5.1% in the next 2025 year.
