ArmInfo. The Macroeconomic Policy Department of the Eurasian Economic Commission (EEC) has presented updated forecasts for GDP for 2020. This was announced on February 17 during a briefing by the Assistant to the Chairman of the EEC Iya Malkina.
In particular, referring to the data of the Department, she noted that in 2020 the decline in GDP in the Union as a whole will be around 3%. According to Malkina, such dynamics indicates that the decline in the EAEU is less significant in comparison with other countries of the world. In this context, she noted that the decline in GDP in the US and EU was recorded at 3.5% and 7.6%.
`2020 has shown that the implementation of joint measures to support economic activity makes it possible not only to smooth out the consequences of the pandemic and to reduce external demand, but also to lay the foundations for structural positive changes in the economies of the Union countries, '' said the Assistant to the Member of the EEC Board.
It should be noted that according to the Statistical Committee, Armenia's foreign trade turnover with the EAEU countries in January-December 2020, compared to the same period of 2019, decreased by 2.6% (against 15.1% growth a year earlier), amounting to $ 2.2 billion. Negative balance of Armenia's foreign trade with the EAEU countries amounted to $ 842.4 million, having increased by 8.6% over 12 months (against growth by 26.4% a year earlier) against the background of an increase in imports by 0.2% to $ 1.5 billion with a decline in exports by 8.3% to $ 705.3 million (against growth in imports by 17.6% and exports by 10.5% a year earlier). According to statistics, the downward trend of Armenia's foreign trade turnover with the EAEU countries was caused by Russia and Kyrgyzstan, while Belarus and Kazakhstan showed growth.
