CCA Highlights: Armenia bound to show stellar growth for full-year 2023, Azerbaijan and Georgia persist with rate cuts, Uzbekistan to move earlier than expected to net-gas-importer status

CAUCASUS / CENTRAL ASIA - Report 02 Jan 2024 by Ivan Tchakarov

We briefly discuss key economic and political events in the Caucasus and Central Asia:

Armenia: Short-term economic indicator increases by 11.2 percent YoY in Nov
Armenia: Growth slows significantly on a s.a. Q-o-Q basis in 3Q23
Armenia: Nikol Pashinyan attends key EEU and CIS meetings in Moscow
Armenia: Peace treaty with Azerbaijan may exclude demarcation of borders
Azerbaijan: Central bank eases further, to 8.00 percent from 8.50 percent previously
Azerbaijan: Dollarization reaches new lows
Azerbaijan: Fiscal position improves slightly in Nov
Azerbaijan: Azerbaijan expels two French diplomats
Azerbaijan: Remittances continue to run at normal levels in Nov
Georgia: Central bank cuts policy rate by 50bps to 9.5 percent
Georgia: Remittances stabilize at a high level in Nov
Georgia: 3Q23 GDP moderates to a still strong 5.7 percent YoY
Georgia: Short-term economic indicator grows by 5.9 percent YoY in Nov
Georgia: NBG sold only US$14.7mn in Nov
Georgia: Trade deficit stabilizes in Nov but remains large
Georgia: Nika Melia and the party Lelo for Georgia to combine forces to contest Oct elections
Georgia: Georgian billionaire Bidzina Ivanishvili returns to politics
Uzbekistan: Senate approves 2024 budget with 4-percent-of-GDP deficit
Uzbekistan: IMF’s Staff Visit ends with a statement praising Uzbekistan’s macroeconomic resiliency
Uzbekistan: Transition to a net importer of gas may occur earlier than expected
Tajikistan: Increasing signs of transfer of power in Tajikistan
Tajikistan: Inflation increased by 3.7 percent YoY in Nov
Tajikistan: Data points to robust economic performance in Nov

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