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Supreme Eurasian Economic Council expanded meeting

The Supreme Eurasian Economic Council was held on 6 December 2018 in St. Petersburg.

As Russian President Vladimir Putin who chaired a meeting noted, the combined GDP of the EAEU member states increased by 2 percent in January-June. Industrial production has grown by 3.3 percent and agricultural output by 2.4 percent.

The EAEU’s positions in international rating have improved, including in Doing Business 2018, where it has moved up to the 31st place. In 2017, we ranked 40th among the world’s 190 economies.

A regulatory and institutional framework has been developed for the launch of the EAEU unified digital space. The Union’s 2019 budget, which we will adopt today, includes significant funds for the implementation of large digital projects.

In September, representatives of central banks signed an agreement on harmonising legislation related to financial markets. This was a big step towards forming a common financial space.

Russian President suggested discussing the issue of creating a common calculating structure using modern financial technology in the Union. It would allow to improve the stability of our countries’ national payment systems and make them less dependent on the US dollar and other foreign currencies and increase economic sovereignty.