CCA Highlights: Armenia boasts stellar early 2024 growth, Azerbaijan cuts rates, Georgia's outlook upgraded by Moody's, Uzbekistan sees continuing declines in gas output

CAUCASUS / CENTRAL ASIA - Report 28 Mar 2024 by Ivan Tchakarov

We comment on the key macro and political stories in the Caucasus and Central Asia:

Armenia: Monthly economic indicator soars to 16.3% y/y in Feb
Armenia: Budget posts large deficit in Feb
Armenia: PM argues that GDP is growing above its potential
Armenia: PM claims Azerbaijan may start war if Armenia does not transfer border villages
Armenia: Parliament ratifies agreement on status of EU border mission
Armenia: PM to visit Moscow in May for 10th anniversary of creating the EEU
Armenia: Most banks suspend service of Russian MIR cards from Mar 30th
Azerbaijan: Central bank cuts policy rate by 25bpts to 7.50 percent
Azerbaijan: Azerbaijan has no intention to join NATO
Azerbaijan: Baku denies supplying arms to Ukraine
Azerbaijan: Baku accuses EU special envoy Toivo Klaar of prejudice
Azerbaijan: Baku questions intentions of EU observer mission
Georgia: GDP grows by 7.5 percent in 2023
Georgia: Moody's keeps Georgia at Ba2 but upgrades outlook to stable
Georgia: PPI breaks into positive territory in Feb
Georgia: Bank lending growth inches up to 16 percent YoY in Feb
Georgia: NBG ramps up FX purchases in Feb
Georgia: Exports and imports recover in Feb
Georgia: Business climate worsens slightly in 1Q24
Georgia: Real wages grow by 14.8 percent in 4Q23
Georgia: GD to initiate amendments to Constitution concerning family values
Georgia: NGOs slam PM's statement that the "vetting" process of judges is closed
Georgia: ADB releases its 2024-2028 Georgia strategy
Georgia: Parliament overrides President's veto on election law
Uzbekistan: Uzbekneftegas plans to invest US$608.6mn in 2024 to support gas production
Uzbekistan: Trade deficit moderates to US$825mn in Feb
Uzbekistan: Industrial production continues its stellar growth in Feb
Uzbekistan: Gas production inches down to 3.8bcn in Feb
Uzbekistan: Uzbekistan to sell at least 3 banks by the end of 2025
Uzbekistan: AIIB approves US$670mn financing to support reforms
Uzbekistan: Saudi ACWA Power to invest USD1bn in two wind farms
Uzbekistan: Uzbekistan to produce up to 500,000 hybrid and electric BYD vehicles per annum
Uzbekistan: Excise taxes on petroleum products to rise from Apr 1
Tajikistan: Inflation inches down to 3.6 percent YoY in Feb

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