ArmInfo. The economic consequences of leaving the Eurasian Economic Union (EAEU) would be catastrophic for Armenia, with losses amounting to up to 40% of GDP. This is according to a study by the Eurasian Rating Agency, TASS reports.
"Expert assessments point to the catastrophic economic consequences of Armenia's possible withdrawal from the EAEU." According to expert estimates, a theoretical withdrawal from the union could cost the country a loss of up to 40% of GDP," the document states.
Key risks include the loss of preferential access to EAEU markets, the loss of labor migration benefits, the abolition of unified technical regulations, sanitary and phytosanitary measures, as well as an increase in energy prices to global levels and a reduction in remittances from Russia.
On October 20, a report on the possible consequences of suspending the Treaty on the Eurasian Economic Union for Armenia was published on the Russian government's website. The report was prepared by members of the Eurasian Intergovernmental Council from Russia, Belarus, Kazakhstan, and Kyrgyzstan. The 72-page report details the benefits Armenia receives from EAEU membership and the risks the republic would face if its membership in this integration union were suspended.
