Jun CCA Highlights: Armenia cuts rates, inflation rears its head in Armenia and Azerbaijan, Georgia's 1Q24 GDP growth impresses, higher tariffs take a toll on Uzbekistan's inflation
We comment briefly on the key macro events in the CCA region in Jun:
Armenia: Central bank cuts refinancing rate by 25bpts to 8.00 percent
Armenia: Inflation returns in May
Armenia: Net remittances drop in Apr
Armenia: Budget posts small deficit during Jan-May
Armenia: Foreign reserves inch up to US$3.21bn in May
Armenia: REER strengthens in Apr
Armenia: EU postpones ban on import of Russian diamonds processed in third countries
Armenia: Eurasian Development Bank sees GDP growth at 7.5 percent in 2024
Armenia: Armenian parties propose referendum on EU membership
Armenia: Purchase of French howitzers creates fresh tensions between Baku and Yerevan
Armenia: PM Pashinyan no longer sees threat from Tavush for Motherland movement
Armenia: Opposition to switch to new stage of fight against PM Pashinyan
Azerbaijan: GDP grows by 4.2 percent over Jan-May
Azerbaijan: CPI returns to positive growth in May
Azerbaijan: CBA keeps policy rate unchanged 7.25 percent
Azerbaijan: Budget surplus amounts to AZN 2.5bn during Jan-May
Azerbaijan: Reserves inch up to US$11.71bn in May
Azerbaijan: Azerbaijan's keeps oil production quota under the OPEC+ deal for 2025
Azerbaijan: Energy production inches up in May
Azerbaijan: Azerbaijan exports 2.1cm of gas in May
Azerbaijan: Real incomes continue to post strong growth in Jan-May
Azerbaijan: Azerbaijan to hold early Parliamentary Elections
Azerbaijan: Russian peacekeepers complete withdrawal from Nagorno-Karabakh
Georgia: Monthly economic indicators rises by 11.8 percent YoY in Apr
Georgia: Inflation increases by 2.0 percent YoY in May
Georgia: PPI accelerates to 6.7 percent YoY in May
Georgia: 1Q24 GDP grows at 8.4 percent YoY
Georgia: NBG keeps policy rate unchanged at 8.0 percent
Georgia: NBG intervenes to stem pressures on the lari
Georgia: Net remittances inch up to US$254.2mn in May
Georgia: REER loses value in May
Georgia: Government ups 2024 GDP growth forecast to 6.0 percent
Georgia: US slaps sanctions on Georgia for adopting Transparency Law
Georgia: Six opposition parties sign Declaration of Unity
Uzbekistan: CPI jumps to 10.6 percent YoY in May
Uzbekistan: Inflation expectations stabilize in May
Uzbekistan: CBU keeps policy rate unchanged at 14.0 percent
Uzbekistan: FX reserves rise to US$36.6bn in May
Uzbekistan: Gas production continues to fall in May
Uzbekistan: Industrial production still strong in May
Uzbekistan: Trade deficit widens to US$1.4bn in May
Uzbekistan: Central Bank lowers mandatory reserve requirements for FX deposits
Uzbekistan: Central Bank has started transferring part of its reserves to securities
Uzbekistan: Uzbekistan approves fiscal strategy for 2025-2027
Uzbekistan: Number of Uzbek migrants to Russia falls 4-fold since 2016
Uzbekistan: Construction of the China-Kyrgyzstan-Uzbekistan railway to take 6 years
Uzbekistan: Gazprom opens a representative office in Uzbekistan
Tajikistan: Inflation remains contained at 3.6 percent YoY in May
Tajikistan: GDP grows by 8.1 percent YoY over Jan-Apr
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