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State secretary says it's too early for single currency within Union State

November 05, 2015, 14:03 UTC+3 MINSK
The shift to single currency "turned out to be one of the most challenging elements of integration policy"
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© Sergey Konkov/TASS

MINSK, November 5. /TASS/. It’s too early to speak about single currency within the Union State of Russia and Belarus, its state secretary said on Thursday. "When the decision was made to shift to single currency it was followed by a package of documents aimed at creating conditions for that," he said.

Rapota added that part of the issues were related to unification of antitrust legislation, currency exchangeability, tax policy.

"Neither of the conditions was fully fulfilled so it’s too early to speak about creating single currency," Rapota said, adding that the shift to single currency "turned out to be one of the most challenging elements of integration policy."

For his part, Chairman of the CIS Executive Committee, CIS Executive Secretary Sergey Lebedev says ultimate solutions, which will allow mutual payments between CIS countries in national currencies, will be taken in the nearest future.

"I’m thoroughly convinced that in the nearest future ultimate solutions and options will be found, which will enable us to make mutual payments between CIS states in national currencies," he said.

According to Lebedev, challenges faced by CIS countries when making payments in foreign exchange currencies, pushes them to finding other options.

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