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Macroeconomic Reports

Macroeconomic Reports

 

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To implement the initiatives proposed by the Heads of State of the Eurasian Economic Union on April 14 at the working meeting dedicated to the development of solutions to counter the COVID-19 pandemic and mitigate its economic consequences, the Eurasian Economic Commission has prepared the analytical report “Mechanisms for responding to threats to macroeconomic stability in the context of the global economic crisis caused by the pandemic”. 

Analytical report on mechanisms for responding to threats to macroeconomic stability in the global economic crisis caused by the pandemic. The report provides an overview of the mechanisms used by the Union States and individual countries of the world to respond to threats to macroeconomic stability and provides an assessment of their adequacy in respect to the current global crisis. The analytical report also contains recommendations on the applicability of such response mechanisms to ensure macroeconomic stability in the current environment, as well as an assessment of the main scenarios for the medium-term development of the world economy and the national economies of the EAEU States. It assesses the global threats and risks to macroeconomic stability in the countries of the Union. It also gives an assessment of the cost of a set of measures taken by countries, the applicability of prior cases of crisis management and economic recovery in both the 20th and 21st centuries (in 2008 and 2015). The goal of the report is to provide the necessary information and analytical support for the formation of macroeconomic regulation tools, which would ensure the necessary flexibility and proactive response to the escalation of threats. 

Report on the macroeconomic situation in the Member States of the Eurasian Economic Union and proposals for ensuring sustainable economic development This report raises the awareness of the EAEU Member States on certain issues of agreed macroeconomic policies, which serve as the basis for discussion and development of the agreed macroeconomic policy and its guidelines, contains proposals from the EAEU Member States and the Eurasian Economic Commission to ensure the coordination of macroeconomic policy and the development of macroeconomic dialogue between the Member States. Analytical report for 2019 The COVID-19 coronavirus pandemic that occurred in early 2020, combined with a sharp drop in commodity prices and financial destabilization, led to a significant change in both the global economic environment and the macroeconomic situation in the EAEU. Nevertheless, the assessments, conclusions, and recommendations set out in the analytical report remain relevant in the current conditions. They can be used in conjunction with the package of anti-crisis measures taken both at the national level and at the Union level.

In particular, the implementation of recommendations related to the extensive use of available resources not involved in the economic turnover, including capacity utilization, can give a significant impetus to the development of the EAEU States' economies. To support the implementation of this plan, one can use measures, such as deployment by national (central) banks of special instruments for refinancing commercial banks in order to support investments and replenish working capital of industrial enterprises under special investment contracts, as well as provide funding for development institutions; implement joint targeted programs and projects; expand industrial cooperative ties, and use any other measures and mechanisms stipulated in the draft Strategic Directions for Developing the Eurasian Economic Integration until 2025.

Annual report on the results of socio-economic development of the Eurasian Economic Union Member States and macroeconomic policy measures.

This report is prepared annually in accordance with the Procedure for Information Exchange between the Authorized Authorities of the Eurasian Economic Union Member States and the Eurasian Economic Commission for the purpose of pursuing the agreed macroeconomic policy, approved by Decision No. 59 of the Commission's Board dated June 2, 2016.

The report is the basic analytical material used by the EEC Macroeconomic Policy Department together with the EAEU Member States in the development of Main Guidelines for Macroeconomic Policy of the EAEU Member States for the next period.

The report contains: 

macroeconomic analysis of the state of the EAEU Member States; 

analysis of the current development conditions;

assessment of the impact of external and internal factors on economic processes; ​

analysis of the macroeconomic policy measures implemented in 2017; 

medium-term development forecasts for the Member States.​