EEU’s GDP to fall by 3.9% in 2020 – EEC
<p> MINSK, Nov 25 - PrimePress. Gross Domestic Product (GDP) of the Eurasian Economic Union (EEU) is expected to decline by 3.9% year on year in 2020 and grow by 3.2% in 2021, assistant to the head of the Eurasian Economic Commission (EEC) Iya Malkina told reporters on November 25, 2020. </p> <p> </p> <p> The EEC forecasted in May 2020 a 3.2% to 7.2% decrease in GDP of the EEU depending on developments. </p> <p> </p> <p> “According to updated forecasts, GDP of the Union member states will decline in 2020 by around 3.9%. It is expected to grow in 2021 by 3.2% as a result of domestic and external demand recovery,” said Malkina. </p> <p> </p> <p> “Economic growth risks remain extremely uncertain in the medium term and are more likely to increase, since any deterioration in the external environment increased the risks to economic growth in the Eurasian Economic Union, especially the oil-exporting countries,” she said. </p> <p> </p> <p> The Eurasian Economic Union has been functioning since January 1, 2015. It unites Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan. Belarus presides EEU bodies in 2020. End </p> <p> </p>
2020-11-26
Primepress
EEU’s GDP to fall by 3.9% in 2020 – EEC
MINSK, Nov 25 - PrimePress. Gross Domestic Product (GDP) of the Eurasian Economic Union (EEU) is expected to decline by 3.9% year on year in 2020 and grow by 3.2% in 2021, assistant to the head of the Eurasian Economic Commission (EEC) Iya Malkina told reporters on November 25, 2020.
The EEC forecasted in May 2020 a 3.2% to 7.2% decrease in GDP of the EEU depending on developments.
“According to updated forecasts, GDP of the Union member states will decline in 2020 by around 3.9%. It is expected to grow in 2021 by 3.2% as a result of domestic and external demand recovery,” said Malkina.
“Economic growth risks remain extremely uncertain in the medium term and are more likely to increase, since any deterioration in the external environment increased the risks to economic growth in the Eurasian Economic Union, especially the oil-exporting countries,” she said.
The Eurasian Economic Union has been functioning since January 1, 2015. It unites Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan. Belarus presides EEU bodies in 2020. End