April CCA Highlights: Armenia's deflation persists, Azerbaijan's GDP growth strong in 1Q, Georgia buys gold, Uzbekistan raises utility tariffs, Tajikistan summons Russian ambassador
We comment on the key economic developments in the Caucasus and Central Asia in April:
Armenia: Monthly economic indicator grows by 15.3% YoY in Mar
Armenia: Central Bank lowers refinancing rate by 25bpts to 8.25%
Armenia: CA posts a 2.1% of GDP deficit in 2023
Armenia: Gross external debt falls to 64% of GDP in 2023, the lowest since 2010
Armenia: Deflation persists in Mar
Armenia: Net remittances recover in Feb
Armenia: REER broadly unchanged in Feb
Armenia: Armenia and Azerbaijan agree on the first stage of border delimitation
Armenia: Pashinyan's approval rating takes yet another dive
Armenia: IMF, WB, ADB update 2024 growth forecasts
Armenia: Moscow withdraws military personnel from Nagorno-Karabakh
Azerbaijan: CA records a surplus of 11.5% of GDP in 2023
Azerbaijan: Inflation drops to 0.4% YoY in Mar
Azerbaijan: GDP growth expands by 4.0% YoY in 1Q24
Azerbaijan: Budget surplus amounts to AZN0.8bn during Jan-Mar
Azerbaijan: Real incomes post accelerating growth in Jan-Mar
Azerbaijan: Gas and oil production inch up in Mar
Azerbaijan: Azerbaijan exports 2.3bcm of gas in Mar
Azerbaijan: SOFAZ transfers US$1.8bn to budget in 1Q24
Azerbaijan: SOFAZ raises share of gold in investment portfolio
Azerbaijan: Public debt amounts to USD 15.2bn as of April 1st
Azerbaijan: Deposit dollarization broadly unchanged in Mar
Azerbaijan: Azerbaijan, Armenia close to peace "as never before"
Georgia: Monthly economic indicator rises by 8.2% YoY in 1Q24
Georgia: Income from foreign travel strong in 1Q24
Georgia: CA posts US$593mn deficit in Q4 2023
Georgia: Gross external debt at 79% of GDP in 4Q23
Georgia: Mar inflation remains contained
Georgia: NBG makes gold purchases for the first time in history
Georgia: FX reserves inch up to US$4.77bn on gold purchases
Georgia: NBG accelerates FX purchases in Mar
Georgia: PPI rises to 4.0% y/y in Mar
Georgia: Bank lending growth inches up to 18.4% YoY in Mar
Georgia: Trade deficit improves in Mar on lower imports
Georgia: REER declines in Mar
Georgia: Parliament adopts tax amendments that would simplify transfer of offshore assets
Uzbekistan: CA deficit widens to 8.6% of GDP in 2023
Uzbekistan: CPI inches down to 8.0% YoY in Mar
Uzbekistan: Inflation expectations remain at elevated levels in Mar
Uzbekistan: CBU keeps policy rate unchanged at 14.0%
Uzbekistan: FX reserves increase to USD 34.2bn in Mar
Uzbekistan: Electricity and gas tariffs headed for large increases from May 1
Uzbekistan: Gas production inches up in Mar
Uzbekistan: Trade deficit moderates to US$572mn in Mar
Uzbekistan: Industrial production loses steam in Mar
Uzbekistan: Gazprom intends to open representative office in Uzbekistan
Uzbekistan: Remittances increase in 1Q24
Uzbekistan: Government intends to speed up Uzpromstroybank privatization
Tajikistan: Inflation remains contained at 3.6% YoY in Mar
Tajikistan: GDP grows by 8.1% over the first two months of the year
Tajikistan: CA posted a 4.9% of GDP surplus in 2023
Tajikistan: Trade balance improves on higher gold exports
Tajikistan: MFA summons Russian ambassador on alleged mistreatment of Tajik nationals
Now read on...
Register to sample a report