Azerbaijan surpasses Armenia in military spending
Three years after the last war between Armenia and Azerbaijan, the Armenian-majority separatist region of Nagorno-Karabakh has suffered fresh Azeri strikes.
Baku said its intention was to target military infrastructure as part of an “anti-terrorist operation” and to spare civilians, but observers on the ground have reported a heavy human toll: At least 32 civilian deaths in the space of 24 hours.
On September 20, the authorities of Nagorno-Karabakh accepted a ceasefire with Azerbaijan, after mediation by Russian peacekeeping forces. Talks are planned for as early as Thursday, 28 September to discuss the region's reintegration into Azerbaijan, reports Statista.
Since the 1990s, the enclave has been the centre point of conflicts between the two former Soviet republics. During the first Nagorno-Karabakh war (1988-1994), it was Armenia which gained the upper hand militarily over its neighbour and won the conflict, allowing the secessionist region to retain a certain degree of autonomy. Over the past three decades, though, the economic and military balance has changed profoundly between the two parties.
As this infographic shows, benefiting from revenues from the oil industry, Azerbaijan saw its GDP grow 45-fold between 1995 and 2022. At the same time, the country's military budget expanded 29-fold. At approximately the same level as its neighbour in the early 1990s, Armenia, on the other hand, has not experienced the same economic and military expansion. Armenia's GDP has increased 15-fold since 1995, and its military spending 13-fold.
You will find more infographics at Statista
Russian service providers recorded a modest expansion in business activity during November, according to the latest PMI survey from S&P Global, but the rate of growth slowed somewhat from October.
Largest number of jobs created in construction, IT&C and hospitality sectors.
Czechia remains the only EU country not to have recovered its pre-pandemic level of output.
Independent group ENAG calculates 129% y/y.
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