YEREVAN. – Armenia will gain in the case of switching to a single currency, Prosperous Armenia Party former MP, economist Vardan Bostanjyan told Armenian News-NEWS.am.
Bostanjyan considers switching to a single currency within the Russia-led Eurasian Economic Union (EEU), which Armenia has recently joined, to be quite likely.
“I know that economic unions have enough odds of switching to a single currency,” he noted.
And as to how this switch may impact Armenia, the economist stated that even though being a part of economic unions is initially a loss of sovereignty and self-government, this will be offset by the fact that Armenia will benefit in the case of a single currency.
“Solely by the fact that quite a number of Armenians are in that [EEU] region; the word is about the migrants who are having losses in the case of [currency] exchange rates. But, now, they will not have that,” Vardan Bostanjyan said.
To note Russian President Vladimir Putin has instructed the Russian Central Bank to start working on the creation of an EEU single currency.