Aug CCA Highlights: Armenian 1H GDP growth revised down, Azerbaijan gets IG status from Fitch, Uzbekistan's GDP surpasses US$100bn, Tajikistan upgraded by S&P
We comment on the key macro and political events in the CCA region in Aug:
Armenia: 2Q GDP grows by 6.4% YoY
Armenia: Fitch affirms Armenia at BB- with a stable outlook
Armenia: Central bank cuts refinancing rate by 25bpts to 7.75%
Armenia: Inflation edges up to 1.4% YoY in Jul
Armenia: Budget posts small surplus in 1H24
Armenia: Net remittances edge up in Jun
Armenia: Foreign reserves inch up to US$3.41bn in Jul
Armenia: REER inches down in Jul
Armenia: Yerevan and Baku agree to leave unblocking regional transportation for future discussions
Armenia: Armenia establishes company to oversee new NPP construction
Armenia: US steps up efforts to secure nuclear partnership with Armenia
Armenia: Russian border guards leave Yerevan's Zvartnots Airport
Armenia: Armenia appoints new ambassador to Russia
Azerbaijan: Fitch upgrades Azerbaijan to investment grade
Azerbaijan: CBA keeps policy rate unchanged 7.25%
Azerbaijan: FX reserves inch up to US$11.77bn in Jul
Azerbaijan: GDP grows by 4.5% over Jan-Jul
Azerbaijan: Budget surplus amounts to AZN 3.1bn during Jan-Jul
Azerbaijan: Inflation picks up speed to 2.7% y/y in Jul
Azerbaijan: Ministry of Finance improves Azerbaijan's GDP growth forecast for 2024
Azerbaijan: Azerbaijan officially applies for BRICS membership
Azerbaijan: A rare poll in Azerbaijan gives President Aliyev 90% approval rating
Azerbaijan: Oil and gas production increase in Jul
Azerbaijan: Azerbaijan exports 14.7bcm of gas during Jan-Jul
Azerbaijan: Baku spends US$1.2bn on newly acquired territories in 1H
Georgia: NBG keeps policy rate unchanged at 8.0%
Georgia: 1H24 GDP grows by 9.0% YoY
Georgia: Inflation edges down to 1.8% YoY in Jul
Georgia: PPI rises by 8.2% YoY in Jul
Georgia: S&P affirms Georgia at BB
Georgia: Net remittances edge up to US$264.7mn in Jul
Georgia: FX reserves inch up to USD 4.67bn in Jul
Georgia: GD says UNM should be declared unconstitutional
Georgia: GD intends to declare Orthodoxy as the state religion
Georgia: Election is a referendum between war and peace - PM Kobakhidze
Georgia: Government appoints Head of Financial Reporting Department
Georgia: More than half of population ready to vote for GD in Oct parliamentary elections
Georgia: Georgia expects to serve 6.5mn passengers at its international airports in 2024
Uzbekistan: Fitch affirms Uzbekistan at BB- with a stable outlook Outlook
Uzbekistan: CPI broadly steady at 10.5% YoY in Jul
Uzbekistan: Inflation expectations moderate further in Jul
Uzbekistan: Salaries, pensions and benefits to increase from Sep 1
Uzbekistan: Republican budget deficit reaches UZS36.4trn over Jan-Jul
Uzbekistan: FX reserves rise to US$37.4bn in Jul
Uzbekistan: ADB launches new 5-year partnership strategy for Uzbekistan
Uzbekistan: Uzbekistan to create national investment fund
Uzbekistan: Trade deficit widens to US$1.7bn in Jul
Uzbekistan: Industrial production expands by 7.1% YoY over Jan-Jul
Uzbekistan: 2023 GDP surpassed US$100bn
Uzbekistan: Uzbekistan aims to reduce poverty level to 7% in three years
Uzbekistan: Amount of guaranteed deposits in banks to be reduced to UZS200mn
Uzbekistan: The Central Bank of Uzbekistan acquired 9 tons of gold in June
Tajikistan: S&P upgrades Tajikistan to B
Tajikistan: We published a detailed PowerPoint presentation on the country's latest macro in our most recent Topic of the Week, dated August 23, 2024.
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