CCA Highlights: Armenia grows by 8.7% in 2023, Azerbaijan's growth finally accelerates in Jan, Georgia suffers large drop in Jan exports, Uzbekistan modernizes monetary transmission mechanism

CAUCASUS / CENTRAL ASIA - Report 26 Feb 2024 by Ivan Tchakarov

We comment on the key recent macro events in the Caucasus and Central Asia:

Armenia: 2023 posts 8.7 percent GDP growth
Armenia: 2023 foreign trade deficit widens
Armenia: REER inches down in Dec, but still runs in overvaluation mode
Armenia: CB publishes minutes from Jan 30th rates meeting
Armenia: S&P affirms BB- rating with stable outlook
Armenia: Fitch constructive on Armenian banks in medium term
Armenia: PM says NATO membership not on the agenda, for now
Armenia: Suspending participation in CSTO
Armenia: Ameriabank acquired by Bank of Georgia
Armenia: Visa liberalization with EU on the agenda
Azerbaijan: Inflation drops to 1.7 percent YoY in Jan
Azerbaijan: GDP growth increases by 5.0 percent YoY in Jan
Azerbaijan: Diverging paths for gas and oil production in Jan
Azerbaijan: Gas exports rise to 2.3bcm in Jan
Azerbaijan: Budget surplus posts at AZN1.7bn in Jan
Azerbaijan: Fitch affirms BB+ rating with positive outlook
Azerbaijan: 78 percent of citizens support signing a peace treaty with Armenia
Georgia: S&P confirms sovereign rating at 'BB' with stable outlook
Georgia: 2010-2023 GDP growth revised
Georgia: Trade deficit declines to USD663mn in Jan
Georgia: Producer inflation down by 0.7 percent in Jan
Georgia: Net remittances fall to USD237.5mn in Jan
Georgia: IMF wants increase in non-executive members of NBG's Supervisory Council
Georgia: Parliament adopts controversial amendments to electoral law
Georgia: Transparency International Georgia hails lower economic dependence on Russia in 2023
Georgia: Central bank lowers liquidity ratio for non-resident FX deposits
Uzbekistan: CBU modifies monetary transmission mechanism
Uzbekistan: Ministry of Energy introduces limits on energy consumption
Uzbekistan: Energy constraints may hamper ambitious growth objectives
Uzbekistan: Gas production's decline continues in Jan
Uzbekistan: Fresh investments to facilitate a 3.5-fold increase in gas imports from by 2030
Uzbekistan: IP rises by a robust 16.6 percent YoY in Jan
Uzbekistan: Trade deficit widens in Jan
Uzbekistan: Bank loan portfolio expands by 20.9 percent YoY in Jan
Uzbekistan: Government plans international credit rating and IPO for Uzbekistan Airways
Uzbekistan: Uzbekistan forbids opening of bank accounts for sanctioned individuals
Uzbekistan: Fitch affirms Uzbekistan at BB- with stable outlook
Tajikistan: Tajikistan confirmed by S&P at 'B-' with stable outlook
Tajikistan: CB lowers policy rate in a surprise move
Tajikistan: Jan CPI constant at 3.8 percent YoY
Tajikistan: Public debt amounts to 30.2 percent of GDP as of Jan 1st

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