MOSCOW, 25 November (BelTA) – The Eurasian Economic Commission expects the Eurasian Economic Union's GDP growth rate to drop by 3.9% in 2020 due to the COVID-19 pandemic, BelTA learned from Iya Malkina, Aide to the Chairman of the Board of the Eurasian Economic Commission, on 25 November.
According to updated projections, the Eurasian Economic Union's GDP will be reduced by roughly 3.9% in 2020. The GDP is expected to grow by 3.2% in 2021 due to the restoration of the domestic demand and the foreign demand.
The official noted that economic risks in the medium term remain extremely indefinite and are likely to shift to the negative side because any worsening of external conditions will increase risks to the growth of EAEU economies, primarily oil-exporting countries.
