Eurasia / Data
Kazakhstan’s manufacturing PMI signals renewed contraction
Period of growth comes to abrupt halt in September.
Easing inflation supports hopes for rate cuts by year-end in Georgia
Annual inflation rate eased to 10.9% y/y in August from the peak level of 13.9% in May.
Kazakh manufacturing PMI signals further growth in August
Production, however, barely recorded any growth over the month, while severe supply-chain disruption and cost pressures due to exchange rate weakness continued.
Tajikistan faces triple challenge of poverty, climate change and a fast-growing population
Tajikistan, the poorest country in Emerging Europe, also has its fastest growing population, which is expected to more than double by the end of the century.
Kazakh CPI inflation up 15% y/y in July
Price growth primarily driven by food inflation at 19.7%. Non-food inflation recorded as 14.2%.
Kazakh manufacturing PMI shows further expansion in July
New orders expand “at near-record pace”.
Kazakh central bank raises policy rate to 14.5%
Regulator says inflation could exceed 13%-15% forecast for this year and only begin slowing in the first quarter of 2023.
Georgia’s banks post impressive 1H22 annualised return on equity
Revenues expand 17% y/y to GEL3.4bn while expenses move up 39% y/y to GEL 2.36bn.
Georgia’s exports went up by 25% y/y in June
But trade deficit widened by 19% y/y to $609mn in the month.
Emerging markets see $4bn of outflows in June as global recession fears grow
Pockets of weakness persist in emerging markets where real interest rates are deeply negative – and risks for those countries are rapidly mounting.
