July CCA Highlights: Armenian growth slows markedly, Azerbaijan's rating confirmed at Ba1 by Moody's, Georgia's EU accession put on hold, Uzbekistan cuts rates, Tajikistan's growth continues to surprise on the upside
We comment briefly on the key macro and political themes in the CCA in July:
Armenia: CA deficit worsens in 1Q24
Armenia: Monthly economic indicator accelerates to 7.1% YoY in Jun
Armenia: Gross external debt inches up to 65 percent of GDP in 1Q24
Armenia: Inflation edges up to 0.8% YoY in Jun
Armenia: Net remittances recover in Jun
Armenia: Budget position broadly flat in 1H24
Armenia: Foreign reserves inch up to US$3.34bn in Jun
Armenia: REER inches down in May
Armenia: Armenians are getting frustrated with current protests
Armenia: Poll shows Russia and EEU more popular than EU and NATO
Armenia: Baku demands changes in Armenia's Constitution
Armenia: Azerbaijan invites Armenia to COP 29 meeting in Nov
Armenia: PM argues Armenia is in need of a new Constitution
Armenia: Russian diamonds lose their shine for Armenia
Azerbaijan: President calls early Parliamentary Elections on Sep 1
Azerbaijan: FX reserves inch up to US$11.74bn in Jun
Azerbaijan: SOCAR assets rose to US$58bn in 2Q
Azerbaijan: Moody's keeps Azerbaijan's rating at Ba1, raises outlook to positive
Azerbaijan: Moody's affirms SOCAR at Ba1, raises outlook to positive
Azerbaijan: Azerbaijan amends budget of State Oil Fund for 2024
Azerbaijan: GDP grows by 4.3% in 1H24
Azerbaijan: FX reserves rise to US$11.74bn in Jun
Azerbaijan: Inflation declines to 1.1% YoY in Jun
Azerbaijan: Gas production increases in 1H while oil production edges down
Azerbaijan: Azerbaijan exports 12.7bcm of gas during first half of the year
Azerbaijan: President Aliyev upbeat on meeting 20bcm gas export target to EU by 2027
Georgia: Inflation increases by 2.2% YoY in Jun
Georgia: PPI accelerates to 9.3% YoY in Jun
Georgia: FX reserves inch down to US$4.58bn in Jun
Georgia: Government debt edges up to 38.1% of GDP in May
Georgia: Net remittances edge down to US$252.9mn in Jun
Georgia: Georgia's bond market grew by 39.6% in 2023
Georgia: EU accession put on hold
Georgia: UNM, Strategy Aghmashenebeli announce new political platform
Georgia: Ahali, Girchi-More Freedom and Droa form united movement
Georgia: Lelo for Georgia, For People party and Freedom Square movement also unite
Georgia: Three lawsuits challenge Transparency Law in CC
Georgia: Georgian Dream officially announced the start of its election campaign
Georgia: Senator Shaheen introduced "Georgian People's Act" as amendment to Defense Act
Uzbekistan: Central bank cuts policy rate by 50bpts to 13.5%
Uzbekistan: CA deficit moderates to a still high 7.1% of GDP in 1Q24
Uzbekistan: CPI steady at 10.6% YoY in Jun
Uzbekistan: Inflation expectations fall in Jun
Uzbekistan: Government has spent 85% of budgeted gas subsidies by end May
Uzbekistan: FX reserves decline to US$36.3bn in Jun
Uzbekistan: GDP grows by 6.4% YoY over 1H24
Uzbekistan: Trade deficit comes in at US$1.3bn in Jun
Uzbekistan: Gas production declines by 5.1% YoY over 1H
Uzbekistan: Kazakhstan to increase Russian gas transit to Uzbekistan
Uzbekistan: Deloitte will advise in privatization of National Interbank Processing Center
Uzbekistan: IMF issues Staff Report on 2024 Article IV consultation mission
Uzbekistan: Audit Chamber to audit expenditures of extra-budgetary funds and external debt
Uzbekistan: Uzbekistan to increase share of renewable energy to 40% by 2030
Uzbekistan: Uzbekistan bans activities of foreign political parties
Tajikistan: 1Q24 CA deficit comes in at 3.4% of GDP
Tajikistan: Inflation inches down to 3.5% YoY in Jun
Tajikistan: GDP growth steady at 8.1% YoY over Jan-May
Tajikistan: Ministry of Energy of Tajikistan hopes to receive confirmation of Rogun's financing in August
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