In H2 2022, the economy of the Eurasian Economic Union began to recover, and in 2023 the growth rate of economic activity in the EAEU states is expected to increase. This is said in the report on the results and prospects of socio-economic development of the EAEU states and measures in the field of macroeconomic policy for 2022, which was published today on the website of the Eurasian Economic Commission.

Previously, the document was considered at a meeting of the EEC Board. As was noted by Sergei Glazyev, EEC Minister in charge of Integration and Macroeconomics, the EAEU saw an accelerated economic growth.

“The forecast is quite optimistic. Prerequisites for an intensified economic growth are maintaining positive dynamics of investment activity, improving household incomes, salaries and wages, increasing business loans and a favorable situation on the labor market. These factors will help increase domestic demand during 2023,” said Sergei Glazyev.

He emphasized that the potential for growth was even higher; its realization necessitated stopping the outflow of capital and expanded investment lending.

According to the forecasts by the ministries of economy of Member States, the growth rate of the total EAEU's GDP at the end of 2023 will reach 3%.

The report also provides information on changes in trade and financial relations both within the EAEU and with third countries.