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Economy
05 February 2021, 14:24

EAEU economies projected to grow by 3.2% in 2021

MOSCOW, 5 February (BelTA) - The economies of the EAEU countries are projected to grow by at least 3.2%in 2021, Chairman of the Board of the Eurasian Economic Commission Mikhail Myasnikovich told the media following the meeting of the Eurasian Intergovernmental Council held in Almaty with the participation of the prime ministers of the EAEU countries on 5 February, BelTA has learned.

“We have approved the report on the macroeconomic analysis and relevant proposals,” Mikhail Myasnikovich said. “According to preliminary data, our [the EAEU] GDP is expected to reduce somewhat in 2020. The updated data will be released a little later, but so far the fall is estimated at 3.9%. But at the same time, the forecasts made by the commission say that we will have a successful year in 2021, and we expect the economies of our union to grow by at least 3.2%."

Speaking about the results of the summit, Mikhail Myasnikovich noted that it adopted important, landmark decisions for the EAEU economy. “This is the provision of raw materials for the steel industry, coordination of breeding livestock programs and many others things, which will create a good groundwork for the future,” he said. “Of course, the decisions that relate to the protection of the domestic market are as important. These include approaches to the development of electronic vehicle passports, anti-dumping, retaliatory measures and, of course, the issues of future development."

On 5 February the Eurasian Intergovernmental Council discussed an 11-point agenda, including a better use of special protective, anti-dumping and countervailing measures in the EAEU, and revision of the lists of countries that use the EAEU unified system of tariff preferences. The Eurasian Intergovernmental Council meeting reviewed the concept of improving electronic document management at sea checkpoints of the member states, coordination and analytical support of livestock breeding in the EAEU. In addition to that, the Eurasian Economic Commission presented a report on the macroeconomic situation in the member states and proposals to ensure sustainable economic growth.

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