The Eurasian Economic Union (EAEU) has established itself as a center of economic integration and plays a key role in the global economic space. This was stated by the Chairman of the Cabinet of Ministers, Akylbek Japarov, at the meeting of the Eurasian Intergovernmental Council in Yerevan, reports Akchaber.kg.
He noted that the heads of governments of the member states of the Union regularly hold meetings to discuss positive economic results and agree on future plans. In his speech, Akylbek Japarov highlighted Kyrgyzstan's successes this year, presenting impressive economic growth figures.
For the first eight months of 2024, Kyrgyzstan’s economy demonstrated positive dynamics, with a real GDP growth rate of 6.6% compared to the same period last year. Leading sectors - construction and agriculture - showed significant growth of 39% and 7%, respectively. There was also an increase in wage growth rates, with wages rising by over 11% in the first seven months of 2024.
Special attention was given to foreign trade indicators. From January to July of this year, Kyrgyzstan's foreign trade turnover grew by 4.7%, and the inflow of foreign direct investment increased by 7.7% in the first half of the year.
Akylbek Japarov emphasized the importance of budget reforms: over the eight months of 2024, the consolidated budget increased by 28%, tax revenues grew by 19%, and customs payments by 16.7%. Over the past three years, the state's income has doubled, demonstrating the effectiveness of the economic policies pursued.
This year marks the 10th anniversary of the signing of the EAEU Treaty, and during this time, the Union has continued to increase the pace of integration, strengthening its position on the international stage. The head of Kyrgyzstan's Cabinet noted that the Union is becoming increasingly attractive to third countries, as evidenced by the growing number of observer states and the signing of new trade agreements.
“We have created a solid system of economic security, covering food, energy, and transportation aspects. The Eurasian Economic Union is demonstrating its competitiveness and resilience, attracting increasing attention from the international community,” he concluded.
CentralasianLIGHT.org
October 3, 2024