DECISION OF COUNCIL OF HEADS OF GOVERNMENT OF COMMONWEALTH OF INDEPENDENT STATES

of November 19, 2010

About the main target macroeconomic indicators of development of economy of the State Parties of the CIS

For the purpose of coordination of actions of the State Parties of the CIS in the field of macroeconomic policy, deepening of economic integration on the principles of equal partnership, counteraction to the crisis phenomena in economy and ensuring its sustainable development, growth in volumes of mutual trade and investments on the basis of comparative analysis and assessment of the current level of the economic development reached by the State Parties of the CIS

The Council of Heads of Government of the Commonwealth of Independent States solved:

1. Perform monitoring of the main macroeconomic indicators characterizing economic and social situation, level and dynamics of economic development, extent of economic integration of the State Parties of the CIS according to the list given in appendix.

2. Recommend to the governments of the State Parties of the CIS to be guided when implementing economic policy by achievement of the following measure values characterizing degree of macroeconomic stability in the region including price stability, stability of public finances and the financial markets:

annual central government budget deficit - no more than 4% of GDP;

public debt (external and internal) - no more than 80% of GDP;

exceeding of the rate of inflation (consumer price index, December by December of previous year) over average value of the rate of inflation (consumer price index, December by December of previous year) for three State Parties of the CIS with the smallest increase in prices - no more than 5 percent points;

exceeding of annual average indicator of weighted average rate on long-term loans to economy over annual average indicator of weighted average rate on long-term loans to economy for three State Parties of the CIS with naimenyny increase in prices - no more than 3 percent points.

3. Determine that values of 2 indicators specified in Item and the list of indicators given in appendix to this Decision can be specified taking into account influence of external and/or internal factors.

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