Use of national currencies in mutual settlements in EAEU reaches 90%

The share of national currencies in mutual settlements of the EAEU countries has reached 90% and should further increase, Russian Prime Minister Mikhail Mishustin said at the Eurasian Intergovernmental Council meeting in Almaty, Kazakhstan on 2 February, BelTA has learned.

The Russian head of government called the Eurasian Economic Way, the declaration on further development of economic processes in the EAEU through 2030 and up to 2045 signed by the leaders of the EAEU countries in St. Petersburg in December, an orienting point for this work. “It envisages the expansion of areas of cooperation. This pertains, for example, to the climate agenda, the application of artificial intelligence systems, electronic commerce, as well as the formation of a common financial market and increasing the share of national currencies in mutual settlements, which has already reached 90% and continues to grow,” Mikhail Mishustin said.

The Treaty on the Eurasian Economic Union will mark its 10th anniversary in May. “Over this time, our union has proven its ability to adapt to the changing international environment, to develop steadily in the turbulent global economy. Although at the time of its creation, I think few people could even imagine what challenges we will have to face,” the Russian prime minister said.

He also praised economic growth in the EAEU. “In January-November 2023, the gross domestic product of the union grew by about 3.5%, industrial production rose almost 4%, completed construction works – up almost 8.5%, passenger transportation went up about 13%, retail trade - over 6%,” he said.