Government Bodies
Saturday, 28 November 2020
Minsk Overcast sky 0°C
All news
All news
21 October 2020, 18:43

EAEU comments on COVID-19 pandemic impact on economy

Archive photo
Archive photo

MOSCOW, 21 October (BelTA) – Aide to the Chairman of the Board of the Eurasian Economic Commission (EEC) Iya Malkina spoke about the preliminary estimates of the impact of the COVID-19 pandemic on the economy of the Eurasian Economic Union at a press briefing on 21 October, BelTA has learned.

According to Iya Malkina, the EAEU freight transportation has declined. “It totaled 7.8 billion tonnes, or 93.5% [in January-August 2020] as against the same period of last year. Passenger transportation almost halved and came at 57.3% as against the same period of 2019 (13.6 billion people). Armenia suffered the most with over 40%, and Belarus – the least with 82.7%,” she added.

Industrial output went down by 4.5% in Russia and by 2.2% in Belarus. However, the EAEU managed to sustain the growth in agricultural output that rose by 4.5%.

“According to the overall indicators calculated by the EEC, our economies have passed their points of the slowest business activity,” Iya Malkina said. “However, it will take a while to recover due to unfavorable conditions and the deteriorating epidemiological situation. Negative trends in trade within the EAEU and with third countries still remain in force,” she added.

Subscribe to us
Recent news from Belarus