Economic growth of the EAEU countries slows down to 3.1% in 2022

The EEC report states that by the end of this year, the GDP of the countries belonging to the EAEU will grow by 3.1%. According to the prognosis, last year ended with the economy growing by about 4%. In 2021, she effectively recovered. The reasons for the slowdown are the curtailment of economic support programs, the beginning of tightening of Central Bank’s monetary policy, as well as poor investment activity. Serious inflation risks remain in the EAEU countries against the backdrop of a price sharp rise in energy resources and products. The average inflation rate in the states of the union was 6.1% in the year ended. In 2020, inflation in the EAEU was at the level of 3.9%. The EEC expects that by the end of next year, it will drop to 4.5%. The union countries’ economies may be under pressure from serious global problems associated with new outbreaks of diseases, as well as the consequences of tightening the policy of the Fed and other major central banks.

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Arseny Kudrin

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