Kyrgyzstan’s accession to EEU not cause prices increase

The accession of Kyrgyzstan to the Eurasian Economic Union did not cause a significant increase in prices on the territory of the republic that was feared by some local experts. Former prime minister of the republic Temir Sariev, who is running for presidency in Kyrgyzstan, told TASS.

«One of the main arguments of our opponents was that EEU joining would lead to a significant increase in prices. Even rallies were held, where the opponents of the entry showed price tags which indicated how much this or that commodity would cost in the union. The level of inflation in the Kyrgyz Republic over the past two years is at a historically minimal level. In 2015, prices rose by only 3.4 percent, and following the results of 2016 in the country, on the contrary, deflation was observed," Temir Sariev noted.

According to him, the leadership of the republic feared that EEU joining could lead to an end to the transit of goods through the country and closure of its largest wholesale markets. However, imports of goods from third countries, on the contrary, increased, and the markets that were on the verge of closure got a new life.