As per TBC Capital weekly review, they have refined our tentative more-than-9% economic growth forecast to 9.4% for the full year of 2024.
Alongside conventional tourism, real credit growth remains the most important driver.
As for the GEL, developments are in line with our expectations, with the central point of the accumulation of good time buffers.
With recent USD strengthening, while the EUR/USD pair can certainly dip further, we advise when deciding on the optimal funding currency structure to stay medium to long-term indicators-oriented
Once again, if the optimal allocation approach would have been broadly followed in the past, based on the example of Georgia, the corporate sector would have had around 25-35 percent less debt
With the recent USD appreciation, Uzbekistan’s all major trading partner currencies have weakened, while the UZS REER has strengthened somewhat.
