1、Quarterly Economic MonitorChief Economist TeamJanuary 2026CAREC InstituteNo.19 CAREC Institute Quarterly Economic Monitor Chief Economist Team January 2026 CAREC Institute Quarterly Economic Monitor January 2026 Page 2 of 21 Disclaimer This 19th issue of the CAREC Institute Economic Monitor was prep
2、ared by the Chief Economist Team,including Elvira Kurmanalieva(summary,trade,and inflation),Yixin Yao(output),Shiliang Lu(outlook),and Jian Zhang(investment),under the guidance and supervision by Kouqing Li.Insert I is contributed by Kakha Gogolashvilli,Insert II by Razia Abdieva,Insert III by Tuvsh
3、intugs Batdelger&Nomun Enkhbold.Special thanks go to Hoe Ee Khor for providing comments and suggestions.The views expressed in this Monitor are the views of the authors and do not necessarily reflect the views or policies of the CAREC Institute,its funding entities,or its Governing Council.The CAREC
4、 Institute does not guarantee accuracy of the data included in this Monitor and accepts no responsibility for any consequences of its use.The terminology used may not necessarily be consistent with the CAREC Institutes official terms.The CAREC Institute accepts no liability or responsibility for any
5、 partys use of this Monitor or for the consequences of any partys reliance on the information or data provided herein.By making any designation of or reference to a particular territory or geographical area,or by using country names in the Monitor,the authors did not intend to make any judgment as t
6、o the legal or other status of any territory or area.Boundaries,colors,denominations,or any other information shown on maps do not imply any judgment on the legal status of any territory,or any endorsement or acceptance of such boundaries,colors,denominations,or information.This Monitor is available