On 8 February, Armenian Prime Minister Nikol Pashinyan introduced the government’s ‘revolutionary economic programme’. The programme promised to create ‘radical economic growth’, but critics say it lacks substance, putting too much emphasis on the actions of the public.
Despite the many international economic indices suggesting Georgia is a great success story, most Georgians live in poverty. In a country where emigration is rampant and half the population ekes out a living in agriculture, the government needs to create new strategies to form a strong, industrial economy. [Read more…]
With its flat rate taxes and sky-high growth rates, Nagorno-Karabakh has been described by some as a Caucasian Tiger. In addition, money from abroad funds a generous, but militaristic social welfare system — combining to keep and grow its border villages, and swell the army’s ranks.
Two years after the twice devaluation of the manat and three years after world oil prices plummeted, official statistics in Azerbaijan suggest a rosy picture of the economy. Meanwhile, local companies continue to shut down, each day adding more people to the country’s army of unemployed.
Georgia used to be a regional hub for importing and then re-exporting used cars across the Caucasus and Central Asia. Import tariffs from the Russian-led Eurasian Economic Union as well as regulations on older and right-hand drive cars have stripped the car markets of Rustavi of this valuable trade. [Read more…]