2022-11-25 06:32:27

These economies are booming as Putin's war drives migrants and money out of Russia

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CNBC
By Karen Gilchrist

Key Points

  • Georgia a small Caucasus nation on Russia's southern border alongside Armenia and Turkey, has seen its economy boom amid an influx of Russians and their wealth.
  • The IMF increased its 2022 growth forecast for Georgia to 10%, while the U.N. agency sees the economies of Armenia and Turkey growing 11% and 5%, respectively.
  • The recent influx risks being a boom turned bang, Mikheil Kukava, head of economic and social policy at think tank IDFI, told CNBC.

Russians cross the border between Russia and Georgia days after President Vladimir Putin announced a mobilization drive on September 21.

Daro Sulakauri | Getty Images News | Getty Images

As many economies reel from the impact of Russia's invasion of Ukraine, a select few countries are benefiting from an influx of Russian migrants and their accompanying wealth.

Georgia, a small former Soviet republic on Russia's southern border, is among several Caucasus and surrounding countries, including Armenia and Turkey, to have seen their economies boom amid the ongoing turmoil.

Continue read on cnbc.com

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