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EAEU GDP growth in 2024 projected to reach over 2.5% — Russia’s Deputy PM

In 2022, Armenia’s GDP grew by 12.6%, Kyrgyzstan’s - by 6.3%, Alexey Overchuk said

MOSCOW, January 29. /TASS/. GDP growth in the Eurasian Economic Union (EAEU) in 2024 is expected to be more than 2.5%, Russia’s Deputy Prime Minister Alexey Overchuk said in an interview with Expert magazine.

"In 2022, Armenia’s GDP grew by 12.6%, Kyrgyzstan’s - by 6.3%. All five countries have good GDP dynamics in 2023. The forecast for 2024 is also optimistic - over 2.5% for the entire union," he said.

Overchuk stated that "many factors came together at the same time, and the accumulated effect of the measures and decisions that were taken in the EAEU throughout all the years of its existence" so "it would be incorrect to talk only about the impact of relocation and parallel imports." "The absence of customs and other barriers, the common labor market all contribute to unlocking the investment potential of Armenia, Kazakhstan, and Kyrgyzstan," he said. "The development of Belarus, in addition to the EAEU, is also influenced by its membership in the Union State, where a deeper model of integration interaction is being implemented, which allows our two countries to develop together and adequately respond to emerging challenges," he said.

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