DECISION OF BOARD OF THE EURASIAN ECONOMIC COMMISSION

of June 2, 2016 №59

About the Procedure for information exchange between authorized bodies of state members of the Eurasian Economic Union and the Eurasian economic commission for the purpose of carrying out the approved macroeconomic policy

According to Item 4 of the Protocol on carrying out the approved macroeconomic policy (appendix №14 to the Agreement on the Eurasian Economic Union of May 29, 2014) Board of the Eurasian economic commission of decided:

1. Approve the enclosed Procedure for information exchange between authorized bodies of state members of the Eurasian Economic Union and the Eurasian economic commission for the purpose of carrying out the approved macroeconomic policy.

2. Recognize invalid:

The decision of Board of the Eurasian economic commission of December 11, 2012 №270 "About the Procedure for information exchange between authorized bodies of state members of the Customs union and the Common economic space and the Eurasian economic commission for the purpose of carrying out the approved macroeconomic policy";

The decision of Board of the Eurasian economic commission of February 10, 2015 №13 "About modification of the Decision of Board of the Eurasian economic commission of December 11, 2012 №270".

3. This Decision becomes effective after 30 calendar days from the date of its official publication.

Approved by the Decision of Board of the Eurasian economic commission of June 2, 2016 №59

Procedure for information exchange between authorized bodies of state members of the Eurasian Economic Union and the Eurasian economic commission for the purpose of carrying out the approved macroeconomic policy

1. This Procedure is developed according to Item 4 of the Protocol on carrying out the approved macroeconomic policy (appendix №14 to the Agreement on the Eurasian Economic Union of May 29, 2014) for the purpose of ensuring effective interaction between the authorized bodies of state members of the Eurasian Economic Union performing functions on development of state policy and normative legal regulation in the field of economy, finance and in other spheres and responsible for forming and (or) information representation in the Euroasian economic commission, national (central) banks (further respectively - authorized bodies, state members) and the Euroasian economic commission (further - the Commission) by means of information exchange concerning carrying out the approved macroeconomic policy and determines the sequence of actions of authorized bodies and the Commission.

2. Authorized bodies represent to the Commission according to the legislation of state members the following information, materials and documents:

a) the indicators characterizing social and economic development of state members (are represented according to the Protocol on procedure for forming and distribution of official statistical information of the Eurasian Economic Union (appendix №4 to the Agreement on the Eurasian Economic Union of May 29, 2014)):

the macroeconomic indicators determining stability of economic development:

annual deficit of the consolidated budget of the sector of public administration (as a percentage to gross domestic product);

debt of the sector of public administration (as a percentage to gross domestic product);

the rate of inflation (consumer price index) in annual terms (December by December of previous year, as a percentage);

the macroeconomic indicators determining the level and dynamics of development of economy:

growth rates of gross domestic product (as a percentage to previous year) (are calculated as index of physical amount of gross domestic product);

account balance of current transactions of paying balance (in US dollars and percent to gross domestic product);

index of the real effective exchange rate of national currency (for the Republic of Belarus and the Russian Federation - index of the real effective national currency rate) (on annual average basis and December by December of previous year, as a percentage);

the macroeconomic indicators determining integration scale:

amount of the national investments directed to economy of each state member, including direct investments (in US dollars);

the volume of investment, arrived in national economy from each state member, including direct investments (in US dollars);

b) forecasts (programs) of social and economic development for the medium-term period (are represented annually), including:

materials of the first development stage of forecasts of social and economic development (for the Republic of Armenia - the draft of the forecast of social and economic development for the medium term, for the Republic of Belarus - the draft of the forecast of social and economic development for short-term outlook, for the Republic of Kazakhstan - the draft of the forecast of social and economic development for the 5-year period, for the Kyrgyz Republic - scenario macroeconomic conditions for development of the forecast of social and economic development for the 3-year period, for the Russian Federation - scenario operating conditions of economy and key parameters of the forecast of social and economic development for the next financial year and planning period) (are represented within 5 working days from the date of their approval (approval));

materials of the second development stage of forecasts of social and economic development (for the Republic of Armenia - the forecast of social and economic development for the next financial year, for the Republic of Belarus - the forecast of social and economic development for short-term outlook, for the Republic of Kazakhstan - the forecast of social and economic development for the 5-year period, for the Kyrgyz Republic - the forecast of social and economic development for the 3-year period, including the forecast for the forthcoming financial year, for the Russian Federation - the forecast of social and economic development for the next financial year and planning period) (are represented within 5 working days from the date of their approval (approval));

c) long-term (over 5 years) programs (plans, strategy, concepts) of social and economic development, action plans (concepts, strategy) in the field of economic development and macroeconomic policy (are represented within 7 working days from the date of their approval (approval, acceptance));

d) the main regulatory legal acts in the field of development and realization macroeconomic, budget, tax and monetary policy, and also the regulatory legal acts directed to stabilization of economic situation and increase in stability of economic development (are represented within 7 working days from the date of their approval (approval, acceptance));

e) other information (it is represented on one-time or periodic basis on requests of the Commission).

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