"EEU countries need to work on the coordination of fiscal and monetary policy," member of the board of the Eurasian Economic Commission Timur Suleymenov said today at the 10th International Conference "Eurasian Economic Integration".
According to him, when discussing the issues of the Eurasian integration, it is necessary to talk not only about the positive results and plans. "The union also has the problems which are to be solved in the nearest future. One of them is insufficient coordination of macroeconomic policies, including budgetary and fiscal ones," he said.
"EEC has a special committee with a definite power, but there are also exclusive functions of the countries themselves. As a result, there is a vacuum in the fiscal and monetary policy. Here EEC virtually has no leverages. Solutions exactly in this area affect the activities of the Eurasian Economic Union. I'm not talking about the hard management, I am just about coordination. This is exactly the issues that we have to think about the next year. Then we can realize the potential of EEU better," Timur Suleymenov said.