EEU can successfully withstand crisis

14:54, 20 January 2015

ASTANA. KAZINFORM - The Eurasian Economic Union has enough political and economic potential to withstand the global economic crisis, deputy director of the Institute of World Economy and International Relations of the Russian Science Academy Gennady Chufrin believes.

"We expect a drop of the GDP this year after a five-year period. It is expected to be at the level of 3 percent. It might sound quite negative, but I would like to express my belief that neither Russia nor other members of the EEU are destined to follow this scenario. Otherwise, I think they have quite serious economic and political potential allowing to successfully withstand the rising challenges," he noted. The expert also said that the reasons of the crisis could be easily explained. It includes slowing down economic activity, reduction of prices for oil and raw materials and sanction policy of the western countries aimed at Russia. "The EEU has truly a great potential which is going to begin to realize this year. First of all, we will see it in the service sphere and then in the other sectors," he added.

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