Article by Gilles Remy published in the special issue of CCE International N°584, «Perspectives 2016», February/March 2016.

Central Asia / Caucasus

“Lean times – but for how long ?”

None of the economies of the Central Asian and Caucasian region have been spared the collapse in the price of raw materials, though the growth rates will remain largely positive in 2016. All of these economies are impacted by the global economic downturn, both the rich hydrocarbon producers of the Caspian rim and the countries for which money transfers by emigrant workers in Russia and Kazakhstan represent a key source of revenue. Today is a time for realism and reconsidering large projects. Paradoxically, it’s a period that could allow French businesses to regain a foothold in a region where we have lost market shares in a decade that was euphoric for local economic players but sometimes disappointing for our companies.