CCA Highlights: Armenia growth still brisk in 3Q, Azerbaijan closes USAID, Georgian Dream boosted by intensifying split in opposition, S&P confirms Uzbekistan at BB-

CAUCASUS / CENTRAL ASIA - Report 05 Dec 2023 by Ivan Tchakarov

We comment on key macro-related events in the Caucasus and Central Asia:
Armenia: Economy grows by a robust 7.4 percent YoY in 3Q23
Armenia: Short-term economic indicator increases by 6.0 percent YoY in Oct
Armenia: Hayakve (Armenian vote) initiative to be discussed in Parliament in two months
Armenia: The yield curve has normalized after becoming inverted in late Oct
Armenia: Fiscal outturn strong from Jan to Oct
Armenia: Public debt falls to 45.7 percent of GDP in 3Q23
Azerbaijan: GDP growth weak at 0.5 percent YoY from Jan to Oct
Azerbaijan: Fiscal position worsens slightly in Oct
Azerbaijan: Dollarization remains at record low levels
Azerbaijan: NPLs continue to fall
Azerbaijan: Remittances stabilize at low levels in Oct
Azerbaijan: Azerbaijan closes USAID agency in the country
Georgia: Growth expands by 6.2 percent YoY in Oct
Georgia: Inflation loses steam in Nov
Georgia: NBG sold US$154mn to prop up the lari in Sep and Oct
Georgia: NBG lowers reserve requirements on FX liabilities
Georgia: Intensifying split in opposition United National Movement bodes well for ruling Georgian Dream
Uzbekistan: S&P confirms sovereign rating at BB-
Uzbekistan: The EU's Special Representative for sanctions compliance visited Uzbekistan on Nov 30
Uzbekistan: Uzbekistan and Saudi Arabia signed new agreements worth $12 billion
Uzbekistan: Public sector wages and salaries increased from Dec 1st
Uzbekistan: Central Bank governor argues that looser fiscal policy should imply tighter monetary policy
Tajikistan: Oct economic indicators point to upside risks to 2023 GDP growth
Tajikistan: President Rahmon's visit to Moscow may alleviate rising price pressures

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