EEC Minister says economic figures of EAEU states would be much worse without the Union
EEC Minister says economic figures of EAEU states would be much worse without the Union
STEPANAKERT, MARCH 28, ARTSAKHPRESS-ARMENPRESS: Although in 2016 a decrease of total GDP was recorded within the Eurasian Economic Union (EAEU), GDP growth was registered in separate states, mainly in Armenia, Kyrgyzstan and Kazakhstan, Member of the Board - Minister in charge of Integration and Macroeconomics of the Eurasian Economic Commission (EEC), Tatyana Valovaya told reporters on March 28.
“We have always said honestly that in 2015 the launch of EAEU complied with unfavorable economic reality in global terms which was reflected on the economy of our states. Nevertheless, our analysis for 2015-2016 clearly shows that without EAEU the figures of our countries would be much worse. We are convinced that it is possible to overcome the negative trends due to integration development and reach a positive dynamics, and we can state that the 2016 figures speak about the truthfulness of our predictions made in 2015”, the EEC Minister said.
Tatyana Valovaya stated that the GDP within the EAEU decreased by 0.1%, which was not so significant than that of 2015 when the decrease was 2.3%.
“This is already an encouraging trend. In Armenia the GDP increased by 0.2%, but in 2015 it rose by 3.0%. Coming to Kazakhstan, GDP rose by 1.0%, whereas in 2015 it comprised 1.2%, and in Kyrgyzstan it was 3.8%, however, in 2015 the GDP increased by 3.9%”, she said.
