EFSD Participates in Fifth Eurasian Economic Forum, Presents Regional Macroeconomic Findings and Labor Market Projections Through 2040

The Eurasian Fund for Stabilization and Development (EFSD, the Fund) has taken part in the Fifth Eurasian Economic Forum in Astana, held as part of Kazakhstan's 2026 chairmanship of the Eurasian Economic Union (EAEU). The EFSD delegation was led by the Fund's Chief Economist, Sergei Ulatov.

"The Eurasian Economic Forum is one of the most important platforms for developing shared solutions to regional challenges. Today, Eurasian economies are navigating new pressures, including technological transformation, shifting labor markets, and the need for stronger productivity growth. We are encouraged to see professional discussions increasingly focused on the quality and long-term sustainability of economic growth. EFSD looks forward to continuing this dialogue at our International Economic Conference in Astana this October," said EFSD Managing Director Iaroslav Mandron.

At the session titled Eurasian Economic Integration: Challenges and Prospects, Chief Economist Sergei Ulatov presented a macroeconomic assessment of the region's key trends. He highlighted that average annual GDP growth across nearly all member states accelerated significantly between 2021 and 2025, surpassing pre-pandemic benchmarks: Armenia posted roughly 8% annual growth; Kyrgyzstan nearly 9%; Tajikistan over 8%; and Kazakhstan approximately 5%. Ulatov also flagged the buildup of macroeconomic imbalances and the structural reforms needed to sustain and improve the quality of growth across the region.

At the session titled Developing the EAEU Labor Market Through Digital Tools, EFSD presented interim findings from its ongoing study of Eurasian labor markets. Workers are leaving agriculture, but most are landing in low-productivity service jobs rather than in manufacturing or other higher-value industries. The workforce is only going to keep growing. By 2040, the Fund projects Kazakhstan's labor supply to expand by nearly 2 million people, Kyrgyzstan's by around 1 million, and Tajikistan's by more than 2 million. The central policy challenge is whether these economies can create enough good, high-productivity jobs to absorb that growth.

On the sidelines of the forum, EFSD officials met with KazAID, the Republic of Kazakhstan's official international development cooperation agency. The two organizations discussed plans for joint research, co-hosted events, and deeper engagement with regional policy and academic communities.

EFSD's full research findings on long-term economic growth and labor market development will be presented at the EFSD International Economic Conference on October 29, 2026, in Astana.