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16 April 2021, 14:27
Mikhail Myasnikovich

COVID-19 impact on EAEU economies is weakening

Mikhail Myasnikovich
Mikhail Myasnikovich
Chairman of the Board of the Eurasian Economic Commission

The impact of the COVID-19 pandemic on the economies of the Eurasian Economic Union (EAEU) member states is weakening, Chairman of the Board of the Eurasian Economic Commission (EEC) Mikhail Myasnikovich said as he addressed the 22nd edition of the April International Academic Conference on Economic and Social Development hosted by the Russian HSE University, BelTA learned from the EEC press service.

“The beginning of 2021 has been fine so far,” Mikhail Myasnikovich noted. “The negative impact of the COVID-19 pandemic on the economies of the EAEU member states has been subsiding. For example, in January-February 2021, Belarus' industrial output grew by 8.3% year-on-year. In January, mutual trade between the EAEU member states went up by 3.3%. International organizations expect the global economy to rebound in 2021. Countries that have effectively used economic incentives and launched mass vaccination of the population will fare better. For example, Russia's GDP is projected to increase by 3% in 2021 and by up to 3.9% in 2022,” he explained.

The EAEU countries took concerted action to mitigate the COVID-19 impact, Mikhail Myasnikovich pointed out. “This helped curb the spread of the coronavirus, ensure effective management of resources, medicines, and medical goods and create the conditions for effective post-crisis revival,” he stressed. “In addition, Russia wasted no time to develop of COVID-19 vaccines with high efficacy and launch their supplies and local production in the EAEU member states, which is an example of integration cooperation for the benefit of millions of people,” Mikhail Myasnikovich added.

The EAEU heads of state met three times in 2020. They adopted a special joint statement on the COVID-19 response. The EAEU heads of government held three meetings, including one face-to-face meeting. The EEC Council adopted 73 directly applicable regulations and the EEC Board – 187.

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