Pithy data commentary

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

We comment on key data and news events in the Caucasus and Central Asia:
Armenia: Monthly economic indicator slows in Jul to 6.0 percent YoY, but remains consistent with our full-year 8.0 percent GDP forecast
Armenia: S&P upgrades Armenia to BB-
Armenia: Fresh tensions in Nagorno-Karabakh point to rising risks of military escalation
Armenia: The government sends to the National Assembly the decision to ratify Rome Statute of the International Criminal Court
Azerbaijan: Economic performance in Jul underscores subdued underlying momentum
Azerbaijan: Budget execution remains strong in Jul
Azerbaijan: Remittances stabilize in Jul, but still run above pre-2022 levels
Georgia: GDP growth moderates to 5.5 percent YoY in Jul
Georgia: Trade deficit stabilizes, but remains large
Georgia: Inflation starts to gradually rise in Aug
Georgia: Georgian Dream initiates impeachment procedure against President, underscoring political economy risks in the country
Uzbekistan: 1H23 GDP expands by 5.6 percent YoY, creating some upside risks to our full-year 5.0 forecast
Uzbekistan: Trade deficit falls, but remains at elevated levels
Uzbekistan: Privatization efforts pick up (privatization list available upon request)
Tajikistan: Rustam Rahmon’s visit to China invites speculation about transfer of power
Tajikistan: GDP grows by 8.2 percent during Jan-Jul

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