Investment bank Renaissance Capital says central banks in the region have been more hawkish than expected, following a series of rate hikes.
Against first half of 2020, exports, at $1.38bn, rose by 27.8% y/y and, more importantly when it comes to the long-term trend, grew 24.2% compared to 1H 2019.
Trend, however, suggests economic recovery may be taking hold.
Georgia's foreign trade turnover recovered to pre-coronavirus crisis levels in Jan-Jun this year. The trade deficit was slightly smaller, yet amounted to 15% of full-year GDP.
Analysts predict bank could intervene in second half to bring inflation closer to its 4-6% target corridor.
Georgia’s consumer price inflation came in at 9.9% year on year in June, a major 2.2pp rise from 7.7% y/y in the previous month, according to Geostat.
EBRD says recovery from the coronacrisis is progressing faster than expected, but many emerging Europe economies won’t return to 2019 levels of GDP until 2022.
Armenia's Nikol Pashinyan set to return to full office after trouncing his rival in the country's general election despite projections it would be close-run.
Mongolia’s national consumer inflation is at 6.2%, up by 0.7% m/m.
Expectations close to pre-crisis levels.
Data outlines genuine upward trend.
Annual consumer price index (CPI) inflation in Kazakhstan stood at 7.2% in May, according to data published by the country’s statistics office.
Kazakhstan's GDP contracted by 1.5% y/y in the first quarter, according to latest official figures provided by the national statistics office.
Georgia's Producer Price Index (PPI) for industrial products in April rose by 3.2% m/m and 17.5% y/y, reaching the steepest annual rate seen in a decade.
The number of formally employed Georgians decreased by 12.2% y/y in Q1 to 782,000, implying that around 108,000 jobs were wiped out by the coronavirus-driven crisis.