Negotiations on common macroeconomic policy in progress in Eurasian Economic Union

"Negotiations on forming a common macroeconomic policy in the EEU are in progress. The approach of the European Union will be practiced: basic inflation and budget deficit (for instance, it is 3% in the European Union)," noted Alexander Surikov.

He stressed that since the Eurasian Economic Union has no common currency, it is necessary to wisely approach currency exchange matters. "Belarusian manufacturers were hit by poorly coordinated Belarusian-Russian actions in late 2014 when the exchange rate of the Russian ruble dropped more than the exchange rate of the Belarusian ruble. Afterwards the competitive positions were promptly aligned," noted the Ambassador.

Alexander Surikov noted that there are plans to work out a common macroeconomic policy through a Eurasian Economic Commission document that will stipulate economic leverage measures against the countries that deviate from assigned parameters.