Evgeny Vinokurov on economic recovery of the EDB member states
The volume of trade exchanges between the countries of the Commonwealth of Independent States increased by 26% in the first six months of 2021. All countries were able to overcome the aftermath of the pandemic, and the volume of their trade turnover totaled US$ 100.4 billion. "The economic activity of the zone of our operations (6 countries of the region: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan) has rebounded and in the fourth quarter of 2021 it may exceed the pre-pandemic level by about 1%," says Evgeny Vinokurov, Chief Economist of the Eurasian Development Bank and the Eurasian Fund for Stabilization and Development. He went on to say: “The economic recovery was facilitated by the benefits accruing from the policies of fiscal and monetary easing, the expansion of global demand, and the soaring prices of key export commodities. The GDP growth in the EDB's region of operations in 2021 is expected to be around 4%, after a 2.9% decline a year earlier."