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Even greater growth of economies of EEU countries expected in 2017

The Eurasian Economic Commission expects even greater growth in the economies of the countries of the Eurasian Economic Union in 2017, the member of the collegium (minister) for integration and macroeconomics of the EEC Tatyana Valovaya said today at a press conference.

According to her, in 2016, some signs of correcting economic situation were observed in the EEU. And although the main economic indicators of the union are still mostly negative, the rate of decline is less significant than in 2015. And some indicators, for example, industrial and agricultural production, have a positive trend.

In 2016, the reduction in mutual trade was significantly less than a year earlier — 6.7 percent instead of 25.5 percent.

A similar situation is with foreign trade. Turnover with third countries by the end of 2016 decreased by 12 percent. But this is much less than the year before — by 33.6 percent.

Armenia and Kyrgyzstan have the highest rates. The growth of their mutual trade amounted to 53 and 3.3 percent. Trade with the third countries increased by 3.3 and 11.9 percent.