Russian politics was thrown into chaos after Russian President Vladimir Putin introduced a partial mobilisation on September 21, calling up 300,000 reservists to fight in Ukraine. Within a week ... more
Turkey on August 18 introduced another shock rate cut. The USD/Turkish lira (TRY) pair, which had been testing the 18-level for around a month, crashed through the 18/$ threshold towards 18.15. ... more
The war grinds on in Ukraine with no end in sight. There was the hope a peace fire could be reached in April during the Belarusian talks, but that faded away after the massacre at Bucha* and ... more
Russia’s GDP contracted by 4.3% year on year in July 2022, moderating the decline of 4.9% y/y seen in June, according to the latest date by the Ministry of Economic Development. To remind, For 2Q22 ... more
Iran’s economic growth recorded 5.7% in the third quarter of the current Iranian calendar year (September 23 – December 21, 2021), according to a report by the Central Bank of Iran (CBI) on March ... more
The Georgian economy grew by 7.2% in Q2 and 10.5% in the first half of 2022 y/y, according to the latest National Statistics Office of Georgia data. Deputy Minister of Finance Mikheil Dundua said ... more
Economically, August will be a ‘hot’ month as per usual. The USD/TRY pair may crash again. On July 27, the Fed’s open market committee delivered another 75bp rate hike in line with ... more
Ukraine’s economy experienced a huge negative shock from the invasion. Because the economy has already contracted so much and the government has to cover enormous military spending, the fiscal ... more
Russia Inc is doing better than expected despite sanctions. International Monetary Fund Chief Economist Pierre-Olivier Gourinchas told AFP in an interview that higher energy prices are keeping Russia ... more
The Georgian economy grew by 7.2% in Q2 and 10.5% in the first half of 2022 y/y, according to the latest National Statistics Office of Georgia data. Deputy Minister of Finance Mikheil Dundua said ... more
Iran’s economic growth recorded 5.7% in the third quarter of the current Iranian calendar year (September 23 – December 21, 2021), according to a report by the Central Bank of Iran (CBI) on March ... more
The war drags on and Ukraine is losing ground to Russia in the face of incessant shelling. Russia has already taken all of Luhansk and is now in the process of trying to take the half of Donetsk it ... more
Turkey on June 9 came up with what critics might see as a more desperate and limited version of the process staged last December 20 when President Recep Tayyip Erdogan announced an instrument for ... more
The effects of sanctions against Russia have been less acute than expected so far, Central Bank chief Elvira Nabiullina said on June 17 at St Petersburg International Economic Forum (SPIEF) and she ... more
Iran’s economic growth recorded 5.7% in the third quarter of the current Iranian calendar year (September 23 – December 21, 2021), according to a report by the Central Bank of Iran (CBI) on March ... more
Georgia’s economy expanded by 2.6% y/y in April, according to the national statistics office Geostat. GDP growth was observed in transportation and storage, hotels and restaurants, electricity, ... more
In Turkey, there is a hue and cry, but not much sense is spoken. People are angry and on edge due to the sum of the situation of the country. Everyone agrees with the consensus that Turkey is exposed ... more
Russia’s war destroys, damages over 200 factories, large enterprises in Ukraine. Ukraine will also need to restore 12 airports, over 1,000 educational institutions, and almost 300 bridges and ... more
The 3.5% expansion in Russia’s GDP in Q1 is consistent with a small contraction in q/q terms, and this will almost certainly be followed by a steep fall in output in Q2 as the effects of Western ... more
Georgia’s economy expanded by 2.6% y/y in April, according to the national statistics office Geostat. GDP growth was observed in transportation and storage, hotels and restaurants, electricity, ... more