Mikhail Demidenko, Deputy Director of the Centre for Integration Studies at Eurasian Development Bank, notes that, before the euro was introduced in the EU countries, in the 1990s, 40-70% of exports and 40-50% of imports were evaluated in national currencies. He cites the European Commission’s data that the gain resulting from the abandonment of the dealers’ margins on currency translations alone amounts to 0.4% of the member countries’ GDPs a year and reaches 1% in smaller open economies. Risks associated with the exchange rates decrease and this fosters trade and investment, because currency risks are deemed as an equivalent to trade barriers, the expert believes
Astana, 28 August 2015. The Council of Eurasian Development Bank (EDB) conducted its regular meeting, which was attended by Gagik Khachatryan, Minister of Finance, from Armenia; Vladimir Amarin, Minister of Finance, from Belarus; Karim Massimov, Prime Minister, and Bakhyt Sultanov, Minister of Finance, from Kazakhstan; Adylbek Kasymaliyev, Minister of Finance, from the Kyrgyz Republic; and Anton Siluanov, Minister of Finance, and Igor Finogenov, Advisor to the President of the Chamber of Commerce and Industry, from Russia
Arman Akhunbayev, Head of Country Analysis Department at Eurasian Development Bank, tells about the expected inflation this year after transition to the floating exchange rate of the tenge and the planned GDP growth in 2015
Arman Akhunbayev, Head of Country Analysis Department at Eurasian Development Bank, tells about the expected inflation this year after transition to the floating exchange rate of the tenge and the planned GDP growth in 2015
Arman Akhunbayev, Head of Country Analysis Department at Eurasian Development Bank, spoke at the round table World Economy: Main Trends, Risks and Challenges on sanctions against Russia and their limited influence on Kazakhstan’s economy