The Eurasian Economic Union (EAEU) has established itself as a centre of economic integration and plays a key role in the global economic space. This was stated by Chairman of the Cabinet of Ministers Akylbek Zhaparov at the meeting of the Eurasian Intergovernmental Council in Yerevan.

He noted that the heads of government of the member states hold regular meetings, where they discuss positive economic results and agree on plans for the future. In his speech, the Head of the Cabinet emphasised the success of Kyrgyzstan this year, presenting impressive economic growth indicators.

As of the end of the first eight months of 2024, the republic's economy is demonstrating positive dynamics: the real GDP growth rate was 6.6% compared to the analogous period of the previous year. The leading sectors - construction and agriculture - demonstrated significant growth of 39% and 7%, respectively. There is also an increase in the wage growth rate, which increased by more than 11% in the first seven months of 2024.

Special attention is paid to foreign trade indicators. In January - July this year, the foreign trade turnover of the Kyrgyz Republic increased by 4.7%, and the inflow of foreign direct investment increased by 7.7% in the first half of the year.

Akylbek Zhaparov emphasised the importance of budget reforms: in the first eight months of 2024, the consolidated budget increased by 28%, tax revenues grew by 19% and customs payments by 16.7%. Over the past three years, state revenues have doubled, demonstrating the economic policy efficiency.

This year marks the 10th anniversary of the Treaty on the Establishment of the EAEU, and during this time the Union has continued to increase the pace of integration, strengthening its position in the international arena. The Head of the Cabinet of Ministers noted that the Union is becoming increasingly attractive to third countries, confirmed by the increase of observer states and the signing of new trade agreements.

"We have established a solid system of economic security, which covers food, energy and transport aspects. The Eurasian Economic Union demonstrates its competitiveness and sustainability, attracting more and more attention from the international community,’ he concluded.