Pithy data commentary - October 2, 2023

CAUCASUS / CENTRAL ASIA - Report 02 Oct 2023 by Ivan Tchakarov

We comment on the key data and news in the Caucasus and Central Asia:

Armenia: Armenia loses NK, faces higher medium-term risks
Armenia: Mayoral Elections in Yerevan signify a Pyrrhic victory for the ruling Civil Contract party
Armenia: Short-term economic indicator increases by 10.9 percent YoY in Aug
Armenia: Current account prints at -5.4 percent of GDP in 2Q23
Armenia: Geopolitics bring down the dram
Azerbaijan: Baku enjoys spoils of victory against lackluster economic performance
Azerbaijan: Central bank keeps policy rate unchanged at 9.0 percent, maintains slightly dovish message
Azerbaijan: Government adopts medium-term fiscal framework for 2024-2027
Azerbaijan: Nagorno-Karabakh to add an estimated 0.82 percent to Azerbaijan’s GDP
Georgia: 2Q23 GDP prints strong at 7.5 percent YoY
Georgia: Short-term economic indicator comes in at 5.8 percent YoY in Aug
Georgia: Impeachment procedure against President to be discussed by Constitutional Court on Oct 3rd
Georgia: Lari falls prey to institutional frictions
Georgia: 2Q23 CA deficit moderates to a still high 4.8 percent of GDP
Uzbekistan: CA deficit widens to 8.0 percent of GDP in 2Q23
Uzbekistan: Trade deficit decreases in Aug, but remains large
Tajikistan: Inflation increases fast to 4.2 percent YoY in Aug
Tajikistan: FX reserves continue to decline in Aug

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