The Kazakh manufacturing sector signalled a return to growth in May following a period of disruption caused by the outbreak of war in Ukraine and subsequent imposition of sanctions on Russia, according to the latest purchasing managers' index
The EBRD has cut its 2022 emerging Europe growth forecasts again, reflecting a sharp downgrade for Ukraine and the regional fallout from the war and sanctions.
New orders decreased for fifth successive month due to price hikes and lack of customers. Rate of decline eased significantly from previous month, however, as some firms able to secure new business.
Georgia’s revenue from tourism reached $174.5mn in March, 71.3% of the figure recorded in March 2019.
Currency depreciation and squeezed availability of inputs linked to sanctions effects on Russia send index down to 46.8 in March.