Latest Articles about Economics
Putin’s Passage to India: Where Did It Lead?
Russian President Vladimir Putin termed his recent trip to India “productive” and “positive.” Indeed, twenty agreements were signed with India, pertaining mainly to economic issues, energy supplies and arms sales (Kremlin.ru, December 11). Thus, Russian petroleum giant Rosenft will sell ten million tons (200,000 barrels... MORE
Fraying Georgian Government in Denial as Currency Spirals Downward
On December 5, Georgia’s national currency, the lari, fell by another 2.86 percentage points against the US dollar, hitting its lowest point since spring 2004. Overall, from early November 2014, the lari depreciated by 11.2 percent, quickly sending the prices of everyday products and commodities... MORE
Belarus and Russia’s Ailing Economy
The conflict that arose after Russia’s temporary ban on imports from 23 Belarusian meat processors and on Belarusian food transit to Kazakhstan (see EDM, December 3) has not been resolved yet. During the first week of December, Belarusian officials at all levels of government expressed... MORE
Putin Pledges to Stay the Course, Hits a Dead End
The Kremlin has a lot to explain following the dangerous deterioration of Russia’s international situation and the drastic degradation of its economy. And President Vladimir Putin opted in his annual address to the Federal Assembly, delivered last Thursday (see EDM, December 4) to provide one... MORE
Uzbekistan Seeks to Reinvigorate Its Diplomatic Clout in the Region (Part Two)
Since the fall of 2014, Tashkent has been boosting diplomatic engagement with its neighbors (see Part One in EDM, October 3). In particular, Uzbekistan’s President Islam Karimov met with President Emomali Rahmon of Tajikistan in Dushanbe on September 11 (press-service.uz September 13, 2014), and visited... MORE
Uzbekistan Seeks to Shore up Strategic Alliance With Kazakhstan
On November 24 and 25, Uzbekistan’s president, Islam Karimov, paid an official visit to neighboring Kazakhstan, where he spent long hours with his local counterpart, Nursultan Nazarbayev. The last time Karimov went to Astana was in September 2012, followed by Nazarbayev’s reciprocal visit to Tashkent... MORE
New Trade War Erupts Between Russia and Belarus
“We are beginning the new year without any problems whatsoever, even small ones, in our relations as we have settled them all,” President Alyaksandr Lukashenka observed as recently as November 18, while receiving Russian Foreign Minister Sergei Lavrov (Svaboda, November 28). Yet, barely nine days... MORE
Dagestan’s Industrial Output Grows Strongly—Thanks to Defense Spending and Loss of Russian Facilities in Ukraine
In the first ten months of 2014, the industrial output index in Dagestan grew by 139.8 percent—record industrial growth among Russia’s regions. Moreover, in 2013, the republic’s industrial output index grew by an enviable 137.5 percent. These astonishing figures for the economically depressed republic led... MORE
Ukraine to Develop Defense Industry Without Russia
The annexation of Crimea and the hybrid war with Russia that ensued have changed the Ukrainian government’s attitude toward the domestic military industry. Consequently, Ukraine’s arms production sector is likely to cease being an export-oriented industry that depended on Russia and exploited the fame of... MORE
Kazakhstan Announces New Economic Policy to Avoid Another Crisis
On November 11, Kazakhstani President Nursultan Nazarbayev made a pre-announced televised address to the nation. Since 1997, the president annually addresses the two chambers of parliament at the beginning of the calendar year, thus allowing him to outline his administration’s forthcoming plans and programs and... MORE