EAEU governments' policies spur economic recovery, says Kazakh PM

Askar Mamin noted that the risks connected with the pandemic were longer-term than projected earlier

CHOLPON-ATA, August 20. /TASS/. The policies taken by the authorities of the Eurasian Economic Union (EAEU) member-states in tackling the aftermath of the pandemic spur consistent recovery of the economies of those countries, Kazakh Prime Minister Askar Mamin said at the meeting of the Eurasian intergovernmental council on Friday.

“Overall, we state with confidence that the policies taken by the governments of our countries both on the national scale and on the EAEU scale spur consistent recovery of our economies from COVID-19-related shocks,” he said.

Meanwhile, PM noted that the risks connected with the pandemic were longer-term than projected earlier. “The inequality of the rates of immunization of the global population, as well as the emergence and spread of new, more aggressive virus strains, are the main risks as of today. The risks of scrapping economic incentives programs in developed countries have risen. On certain large central banks there is a risk of interest rates hikes in the shortest term,” Mamin said.

In this respect Kazakh Prime Minister considers it necessary to update the policies approved within the framework of the EAEU in April 2020 aimed at ensuring economic stability amid the pandemic considering the need of future support of the member-states’ economies amid mounting uncertainty.

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