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DECISION OF BOARD OF THE EURASIAN ECONOMIC COMMISSION

of December 19, 2016 №168

About the Procedure for approval of interval quantitative values of external parameters of the forecasts used for preparation of official forecasts of social and economic development of state members of the Eurasian Economic Union

(as amended of the Decision of Board of the Eurasian economic commission of 09.02.2021 No. 11)

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

1. Approve the Procedure for approval of interval quantitative values of external parameters of the forecasts used for preparation of official forecasts of social and economic development of state members of the Eurasian Economic Union.

2. Ask state members of the Eurasian Economic Union to provide in case of coordination of the Eurasian economic commission development of the mechanism of forming of forecasts of mutual trade of state members of the Eurasian Economic Union for the purpose of realization of the Procedure approved by this Decision.

3. Recognize invalid: The decision of Board of the Eurasian economic commission of December 11, 2012 №269 "About the Procedure for coordination of interval quantitative values of the external parameters used in case of development of official forecasts of social and economic development of state members of the Customs union and the Common economic space"; The Decision of Board of the Eurasian economic commission of February 10, 2015 №12 "About modification of the Decision of Board of the Eurasian economic commission of December 11, 2012 №269".

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

Chairman of Board of the Eurasian economic commission
T. Sargsyan

Approved by the Decision of Board of the Eurasian economic commission of December 19, 2016 №168

Procedure for approval of interval quantitative values of external parameters of the forecasts used for preparation of official forecasts of social and economic development of state members of the Eurasian Economic Union

1. This Procedure is developed for the purpose of implementation of the Protocol on carrying out the approved macroeconomic policy (appendix No. 14 to the Agreement on the Eurasian Economic Union of May 29, 2014) (further - the Protocol) and establishes the sequence of actions of state members of the Eurasian Economic Union (further - state members) and the Eurasian economic commission (further - the Commission) in case of determination for forecast period of interval quantitative values of external parameters of the forecasts used for preparation of official forecasts of social and economic development of state members.

2. For the purposes of this Procedure concepts which mean the following are used:

"the second development stage of the forecast" - development stage of the forecast of social and economic development of state member (for the Republic of Armenia - the forecast of social and economic development of the Republic of Armenia for the medium term, for the Republic of Belarus - the forecast of social and economic development of the Republic of Belarus for short-term outlook, for the Republic of Kazakhstan - the forecast of social and economic development of the Republic of Kazakhstan for the medium-term period, for the Kyrgyz Republic - the mid-term forecast of social and economic development of the Kyrgyz Republic for the medium-term period according to the Budget code of the Kyrgyz Republic, for the Russian Federation - the forecast of social and economic development of the Russian Federation for the next financial year and planning period);

"individual external parameters of forecasts" - the indicators having significant effect on development of national economy of each state member and not entering the list of external parameters of forecasts, stipulated in Item 8 Protocols;

"the first development stage of the forecast" - development stage of the preliminary forecast of social and economic development of state member (for the Republic of Armenia - the draft of the forecast of social and economic development of the Republic of Armenia for the medium term, for the Republic of Belarus - the draft of the forecast of social and economic development of the Republic of Belarus the forthcoming year, for the Republic of Kazakhstan - the draft of the forecast of social and economic development of the Republic of Kazakhstan for the medium-term period, for the Kyrgyz Republic - scenario macroeconomic conditions for development of the mid-term forecast of social and economic development of the Kyrgyz Republic for the medium-term period according to the Budget code of the Kyrgyz Republic, for the Russian Federation - scenario conditions and key parameters of the forecast of social and economic development of the Russian Federation for the next financial year and planning period);

"forecast period" - the period constituting 3 years without the current year (year of forming of the forecast);

"authorized bodies" - executive bodies of state members which competence includes development of official forecasts of social and economic development and (or) interaction with the Commission.

Other concepts used in this Procedure are applied in the values determined by the Protocol.

3. The commission performs monitoring of information placed in open access by the international organizations (bodies) in the part concerning forecasts of the prices of Brent crude oil and forecasts of rates of development of world economy. Authorized bodies have the right to send to the Commission of the offer on the international organizations (bodies) creating the specified forecasts.

4. By results of the monitoring performed according to Item 3 presents of the Procedure, the Commission annually till April 1, creates and sends to state members initial offers on interval quantitative values of forecasts of the prices of Brent crude oil and rates of development of world economy.

5. Authorized bodies at the first development stage of the forecast annually, till May 1, send to the Commission of the offer for forecast period on the quantitative values of external parameters of forecasts provided in basic scenarios of drafts of national forecasts of social and economic development and scenario conditions. Authorized bodies of the Russian Federation also send to the specified time in the Commission information on approximate interval of change of forecast natural gas price delivered for internal consumption and about forecast oil price of the Urals brand. The specified information on approximate interval of change of forecast natural gas price provided by authorized bodies of the Russian Federation for the purpose of macroeconomic forecasting is not the obligation of the Russian Federation at the delivery price of natural gas in state members in forecast period.

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