BELARUS NEWS AND ANALYSIS

DATE:

31/01/2007

Belarus, Russia delay introduction of single currency

MINSK, January 31 (Itar-Tass) --The introduction of a single currency in Belarus and Russia has been delayed indefinitely, National Bank head Pyotr Prokopovich said on Wednesday.

"The introduction of a single currency will be unrealistic and impossible until a single economic and customs space is built and until equal conditions for the population and economic entities of the two countries are created," he said.

In his words, the introduction of a single currency should be a result of long work of both sides, "the final stage of our economic integration".

According to estimates made three years ago, the introduction of a single currency, with equal economic conditions in Belarus and Russia, could have increased the growth of Belarusian GDP by an additional 7-9 percent a year.

At the same time, the introduction of a single currency for the sake of introduction may cause an economic recession in Belarus, Prokopenko said.

Source:

http://www.itar-tass.com/eng/level2.html?NewsID=11208286&PageNum=0

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