EAEU economies to grow in 2017

MOSCOW. KAZINFORM The economies of the Eurasian Economic Union (EAEU) member countries  will grow in 2017, said Minister in charge of the Development of Integration and Macroeconomics for the Council of the Eurasian Economic Commission (EEC) Tatyana Valovaya, Kazinform correspondent reports from Moscow.

"It was not an easy year(...) but nevertheless we saw quite a number of encouraging economic signals in 2016. In general, the economic results of 2016, in our view are significantly better than those of 2015", said Tatyana Valovaya.

According to her, in 2016 GDP in EAEU declined 0.3 percent compared to 2.5 percent in 2015.

"In 2016 GDP decreased in two member states only - Belarus and Russia," noted the Minister.

Tatyana Valovaya added that in 2017 GDP growth is expected in all member states.

Minister Valovaya drew attention to the positive trends in industrial output growth in EAEU in 2016 by 0.2 percent, whereas in 2015 it decreased by 3.4 percent. She also marked 3.2 percent  increase in agricultural production in the Union.

"All this lets us believe that in 2017 the economies will begin to grow", she concluded