Economy

30 Posts

•

0 Followers

Abkhazia

Russia cuts financial support to Abkhazia in ‘serious blow’ to relations

by OC Media

•3 min read

Abkhazia’s Foreign Minister has confirmed that Russia has cut financial support to Abkhazia for failing to enact pro-Russian reforms. Sergei Shamba told reporters on Tuesday that Russia had suspended the Socio-Economic Development Programme for Abkhazia two days earlier, on Sunday. Russian financial aid makes up a large proportion of Abkhazia’s government budget. The move comes amidst a growing rift between Abkhazia and Russia, with widespread public backlash over a number of measures push

Armenia

Russia claims Armenian strawberries and brandy ‘fail to meet regulatory standards’

by Arshaluys Barseghyan

•4 min read

Russian media have reported that a large amount of Armenian brandy, as well as a batch of Armenian strawberries, have failed to meet Russian standards. Armenian authorities have stated they have not received any official documentation from Russian authorities regarding these claims. On Wednesday, the Russian Mash Telegram channel reported that the ‘dangerous pesticide tebuconazole’ was found in a four-ton batch of strawberries exported from Armenia to Russia. The batch was selected for test

China

Opinion | Georgia’s one-sided relationship with China comes with significant risks

by Tinatin Khidasheli

•5 min read

The Georgian Government has increasingly moved to strengthen relations with China, hailing the economic potential of the partnership including high-profile infrastructure projects. But despite the optimism, the relationship has so far remained almost entirely one-sided, and in fact, opens the country up to substantial new risks. Georgia’s foreign strategic alignment has been profoundly influenced by its geopolitical location, historical context, and aspirations for closer integration with West

Armenia

Bank of Georgia to acquire Armenia’s Ameriabank for $304 million

by Arshaluys Barseghyan

•2 min read

Bank of Georgia has reached an agreement to acquire Ameriabank, one of the largest banks in Armenia, for $303.6 million. Bank of Georgia Group, which is listed on the London Stock Exchange, announced its proposed acquisition of 90% of the Armenian bank on Monday. The agreement would allow the European Bank for Reconstruction and Development (EBRD) to retain its 10% share in the bank. The acquisition still requires approval by regulators, including the Central Bank of Armenia. Founded in 1

Analysis

Datablog | People in Georgia are highly uncertain about their economic future

by Nino Zubashvili

•4 min read

Across various demographic groups, Georgians are uncertain about what their economic futures might hold, with those from lower-income backgrounds more uncertain than those with a higher income. Georgia today faces numerous structural challenges that hinder social and economic development, such as low productivity and low-quality jobs, poor quality of education, poor links between education and employment, high unemployment, and poverty. On top of this, high use of the dollar alongside the c

Analysis

Datablog | The importance of remittances for Georgian households

by Anano Kipiani

•3 min read

A new analysis of 2019 Caucasus Barometer data suggests that those Georgians whose households received remittances from abroad had a significant increase in economic wellbeing. Immigration from Georgia is common, with a prime motivator being the difficult economic situation in the country. Indeed, about three-quarters of Georgians have a close relative living abroad, and most send remittances to their relatives in Georgia. In turn, remittances made up 12.9% of the country’s GDP in 2019. By co

Jansuh Adleiba. Photo: Marianna Kotova/OC Media.

Abkhazia

Abkhazian hunger striker gets presidential promise of lower petrol prices

by Marianna Kotova

•3 min read

Jansuh Adleiba, an Abkhazian public activist, ended a three-week hunger strike after meeting with Abkhazian President Aslan Bzhaniya who promised him that within two weeks Abkhazian petrol prices would be as low as they are in Russia. Adleiba met Bzhaniya on 28 June. The president also told the activist that they would have a more in-depth discussion on 4 July. The same day, Adleiba also met with opposition leader Adgur Ardzinba, who also told Adleiba that there was now sufficient reason to