Earlier projections said that the economic growth in the Union would reach 3.2% this year
MOSCOW, August 4. /TASS/. Eurasian Economic Union (EAEU) member-states’ GDP will grow by 3.8% in 2021 compared to 2.9% contraction in 2020, assistant to Chairman of the EEC’s (Eurasian Economic Commission) board Iya Malkina told a briefing on Wednesday.
“We expect GDP growth of the Union by 3.8% in 2021 following 2.9% contraction in 2020,” she said.
The economies of Kazakhstan and Russia are supposed to rise by around 4% by the end of this year and may reach the pre-crisis levels as early as in the second half of 2021, Malkina said, adding that in Armenia and Kyrgyzstan the economic recovery is expected to take more time and complete in 2022.
“The growth of the Belarusian economy in the first half of this year is higher than the commission expected as GDP growth rates totaled 103.3% by the end of the first half of the year,” she noted.
Earlier projections said that the economic growth in the Union would reach 3.2% this year.
The EAEU is an international integration economic union. Its member states are Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan. Moldova, Cuba and Uzbekistan are EAEU observer states.