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Integration and Macroeconomics

Member of the Board - Minister in charge of Integration and Macroeconomics Sergei Glazyev
Reception Office of the Chairman Tel. +7 (495) 669-24-06 , 12:00 - 16:00

News on «Integration and Macroeconomics»

20 Sep 2023 EAEU mutual direct investments in Q1 2023 amounted to 64.3% of entire 2022 level In Q1 2023, mutual direct investments in the Eurasian Economic Union countries amounted to 64.3% of the entire 2022 level. The net inflow of mutual investments increased in Armenia and Kazakhstan compared to the same period last year. Mutual investments increased 3.2 times in Armenia, and by 43% in Kazakhstan. The flow of direct investments from the EAEU decreased by 17.7% in Belarus and by 10.6% in Kyrgyzstan. The EAEU anchor investor is Russia (86% of the total mutual investments). More detailed statistics has been provided on the EEC Statistics Department's webpage in the "Mutual Investment" section. 
20 Sep 2023 EAEU money circulation and lending statistics for 2022 published In 2022, the monetization of the economies of the Eurasian Economic Union States (M2 Ratio to GDP) amounted to 33% in Armenia, 16% in Belarus, 27% in Kazakhstan, 36% in Kyrgyzstan and 54% in Russia. The volume of lending to juridical persons increased by 45.5% during 2022, while lending in national currency increased by 70.7%, and lending in foreign currency decreased by 38.9%. Funds deposited by natural persons increased by 30.5%, and juridical persons increased their deposits by 25.1% as of year-end 2022.  The maximum rate on long-term personal loans in national currency was registered in Kyrgyzstan in Q2 of 2022 – 24.3%, and the minimum rate was registered in Belarus in Q4 and in Russia in Q1 of 2022 – 11.4%. The maximum rate on long-term loans to juridical persons in national currency was registered in Kazakhstan in Q4 of 2022 – 20.4%, the minimum rate was registered in Russia in Q4 of 2022 – 8.8%. These and other facts are available on the EEC Statistics Department's webpage in the statistics compendium "Money Circulation and Lending. Statistics of the Eurasian Economic Union. 2022". 
19 Sep 2023 Alexei Overchuk presented Joint Statement of EAEU Member States at SDG Summit under auspices of UN General Assembly Alexei Overchuk, Chairman of the Eurasian Economic Commission's Council and Deputy Prime Minister of the Russian Federation, presented the Joint Statement of the EAEU Member States on the impact of the Eurasian economic integration on achieving the UN Sustainable Development Goals within the EAEU at the Sustainable Development Goals Summit under the auspices of the UN General Assembly held on September 18, 2023. Esteemed Chairman! On behalf of the Eurasian Economic Union (EAEU) Member States - the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation, and as the representative of the State chairing the EAEU governing bodies in 2023, I would like to inform you how the development of economic integration processes within the EAEU contributes to achieving the Sustainable Development Goals (SDG) by the EAEU Member States. Nowadays, the EAEU is one of the developed integration regional associations, which ensures free movement of goods, services, capital and labor. The EAEU prime objective is to improve the well-being of the Member States' citizens. For this purpose, persistent efforts are made to establish the EAEU common markets in certain areas of cooperation. Today the EAEU is more than 184.3 mln consumers. The aggregate GDP of the Member States is over 2 trillion US dollars. The Eurasian integration is based on the principles of equality, mutual respect, and respect for the interests of all its participants, as well as the functioning of the customs union without exemptions and restrictions. This close cooperation is a source of economic development for the participating countries. Each EAEU Member State takes specific steps to achieve the Sustainable Development Goals using national program documents, strategies and development concepts. At the same time, economic integration within the EAEU is an additional factor contributing to the SDGs achievement. The EAEU has become the first association among regional economic integration organizations to analyze the relationship between the depth of integration and progress in implementing the SDGs. The starting point for further assessment of our path towards achieving the 2030 Agenda was the report "Indicators of SDG Achievement in the EAEU Region" prepared by the Eurasian Economic Commission (EEC) and presented at the UN ECOSOC High-Level Political Forum in 2017. The EAEU Member States are pleased to note the positive pace at which they achieve the SDGs in the areas within the EAEU competence. The well-established work in the field of statistics within the EAEU makes it possible to expand the number of indicators that can be calculated within the integration association to evaluate progress in achieving the SDGs. For these purposes, the Member States have determined a list of indicators for achieving the SDGs, with due regard to the EAEU development priorities. For example, free movement of goods guaranteed within the EAEU has a substantial impact on the SDG indicators. The citizens of our States experience practical benefits from free movement of labor implemented in the EAEU. The workers from the EAEU Member States do not need to obtain work permits, and confirm their certificates of education issued in the EAEU Member States. Businesses of our countries and partners operating within the EAEU Member States are beneficiaries of the single market of services. About 50% of the total volume of services are rendered within the EAEU according to uniform rules. The number of service sectors applying a single legal regulation regime is constantly increasing. In order to ensure free movement of capital, the Member States have agreed to gradually harmonize their national legislation in the field of financial market regulation until 2025. This work will result in establishing the EAEU common financial market and a financial market regulator within the EAEU. The EAEU digital agenda has made a significant contribution to achieving the SDGs by the EAEU Member States. In particular, the Unified Search System "Work without Borders" significantly simplifies job search, while the EAEU Ecosystem of Digital Transport Corridors and the Eurasian Industrial Cooperation Network accelerate the process of marketing new products and strengthening cooperation with third countries. Achieving the SDGs has much to do with the efficient implementation of the climate agenda. Our five countries realize the importance of ensuring universal access to sustainable and modern energy and of taking steps to combat climate change. The Bank of Climate Technologies and Digital Initiatives, including those related to carbon footprint accounting, was formed, and a list of criteria for the EAEU Member States' green projects was approved. International cooperation is important in achieving the SDGs. The EAEU stands for an equitable dialog between integration structures and sees this as the key to a more efficient functioning of the global economic architecture. We are pleased to note that this approach is shared by our partners in other regions of the world. We also highly appreciate the attention to regional cooperation issues by the UN, its regional commissions and UN organizations. We express our interest in studying the international best practices in reforming economic sectors aimed at achieving the SDGs, which is of particular importance in light of the forthcoming determination of the strategy for the EAEU further development. Achieving the SDGs is a common goal for which all participants in international relations should join efforts and mobilize existing resources. For reference In 2017, the EEC presented the first report "Achieving the UN SDGs in the EAEU Region" within the High-Level Political Forum on Sustainable Development under the auspices of the UN Economic and Social Council (ECOSOC). The document analyzed the relationship between the depth of integration and progress in implementing the SDGs. The EEC regularly presents information on the impact of the Eurasian integration on achieving the SDGs within the EAEU at the PFSD platform under the auspices of ECOSOC and organizes relevant side events. The Commission presents its SDG developments, including at the UN Regional Commissions. In March 2023, the EEC organized a side event within the 10th Asia-Pacific Forum on Sustainable Development under the auspices of UNESCAP. At year-end 2022, the Eurasian Economic Commission published the compendium “Achieving the Sustainable Development Goals in the Eurasian Economic Union Region". The compendium presents statistical data on the regional list of indicators for achieving SDGs in the Eurasian Economic Union for 2017-2021. The regional list comprises 130 indicators, including 63 indicators proposed for monitoring at the global level, as well as 67 indicators reflecting development priorities in the EAEU.
19 Sep 2023 EAEU consumer price index amounted to 105.9% in August 2023 on yearly basis In August 2023, the consumer price index for goods and services in the Eurasian Economic Union amounted to 100.3% compared to July 2023, 103.9% compared to December 2022, and 105.9% compared to August 2022. Compared to August 2022, the largest increase in prices in the EAEU was registered for paid services (by 9.8%). During this period, prices for food products increased by 4.5%, and prices for non-food products grew by 4.7%.  An increase in prices for food products higher than in the EAEU was registered in Kazakhstan (by 12.4%) and Kyrgyzstan (by 7.5%). The largest increase in prices for non-food products was registered in Kyrgyzstan (by 14.6%) and Kazakhstan (by 13.5%), and the largest increase in prices for paid services was observed in Kazakhstan (by 13.9%). More detailed statistics has been provided on the EEC Statistics Department's webpage in the "On Consumer Price Index" section.
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Report "Achieving the sustainable development goals in the region of the Eurasian economic union"

Decisions on «Integration and Macroeconomics»

203
12/27/2022 12:00:00 am Решение Коллегии ЕЭК №203 О внесении изменений в Методологию формирования официальной статистической информации Евразийского экономического союза
45
12/20/2022 12:00:00 am Рекомендация Коллегии ЕЭК №45 О собирательных классификационных группировках видов экономической деятельности высокого технологичного уровня, наукоемких видов экономической деятельности (услуг) и высокотехнологичных товаров
217
12/13/2022 12:00:00 am Распоряжение Коллегии ЕЭК №217 О Программе статистических работ Евразийской экономической комиссии на 2023 год
166
09/28/2022 12:00:00 am Распоряжение Коллегии ЕЭК №166 О внесении изменения в Программу статистических работ Евразийской экономической комиссии на 2022 год
166
09/28/2022 12:00:00 am Распоряжение Коллегии ЕЭК №166 О внесении изменения в Программу статистических работ Евразийской экономической комиссии на 2022 год

Relevant regulations

Materials for the direction

14 2016 The interview of the Minister on the technical regulation of the EEC Valery Koreshkov with BELTA news agency on establishment of the common market of medicines in the Eurasian Economic Union Medicines is the first group of specific goods, with which the EAEU countries started to work closely by the beginning of the functioning of the common market. Using this experience, the EAEU will form other common markets - for finances, energy, oil and gas, and so on. The BELTA journalist discussed with the EEC Board Member - Minister in charge of technical regulation Valery Koreshkov, what stages are yet to be covered and how the common market of medicines will work.​
Minister in charge of energy and infrastructure of the Eurasian Economic Commission Adamkul Zhunusov answered questions of 09 2016 Minister in charge of energy and infrastructure of the Eurasian Economic Commission Adamkul Zhunusov answered questions of "RUSARMINFO" and shared his view on the level of integration of Armenia in the common energy market of the Eurasian Union ​​How do you estimate the level of integration of Armenia in the common energy market of he EAEU? And what are the objective possibilities of development? ​
Interview of Andrey Lipin, Deputy Director of the Department for Macroeconomic Policy of the EEC, to 04 2016 Interview of Andrey Lipin, Deputy Director of the Department for Macroeconomic Policy of the EEC, to "Vedomosti": "Integration: Running Without Barriers" Since January 2015, the integration processes between Belarus, Kazakhstan, Russia and Armenia, which joined during the year, and the Kyrgyz Republic have been regulated by the Treaty on the Eurasian Economic Union (EAEU) that aims at creating a single market for goods, services, capital and labor.
01 2015 Interview of the EEC Minister Danil Ibrayev to website Russianews.net: "We are protecting the interests of five states" Undoubtedly, Europe has heard of the Eurasian Economic Commission. But both the European Commission, and the Europeans themselves, cannot really imagine what it is, and in particular, whether it threatens the economic interests of the EU or whether it can become its partner. Is it the equivalent of the European Union, but it covers an even larger area, or the revival of the Soviet Union? We met with the Member of the Board of the Eurasian Economic Commission Danil Ibrayev to clarify these questions.
Sergei Glazyev
Sergei Glazyev
Sergei Glazyev
Sergei Glazyev
Sergei Glazyev
Sergei Glazyev
Sergei Glazyev
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