Belarus-Russia single currency postponed

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The introduction of a single currency of the 'union state' of Russia and Belarus has been postponed indefinitely, Piotr Prakapovich, the Chairman of the Belarusian Central Bank told reporters on Wednesday. Until the common customs and economic space and equal conditions for the economic entities in the two countries have been created, there is no place for a single currency, he stressed. Keeping the Belarusian currency has fostered the economic growth in this country, Mr. Prakapovich said.

On condition that the Belarus's demands are met, the introduction of the single currency could also ensure an additional 7-9 percent of GDP growth annually, he noted.

In the view of Prakapovich, Belarus is set to receive an independent credit rating in the second quarter of this year.