❗️ Russia overtakes Germany to become fifth biggest economy in the world, President Putin says.

❗️Putin on the Russian economy:

▪️Growth rate is stable, including in industry;

▪️The current budgetary situation is stable and risk-free;

▪️In a year and a half, the share of the ruble in paying for Russian exports reaches 42%;

▪️In July-September, the budget will be reduced to a surplus, and by the end of the year, the excess of spending over income will be the planned 2% of GDP;

▪️Domestic manufacturers quickly occupy the niches of departed foreign companies, Russia will continue to act in the same way.

BRICS leaders address most crucial global and regional problems

The heads of states are also bound to discuss the de-dollarization of the global economy and weigh prospects for creating a new reserve currency.

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Also available on Sputnik's website: https://sputnikglobe.com/20230822/brics-leaders-address-most-crucial-global-and-regional-problems--1112786686.html

🇨🇳 Xi starts South Africa visit, ‘to leverage cooperation with continent’

Global South seeks to address challenges in cooperation approach, not to confront.

Amid high global attention and expectations, Chinese President Xi Jinping left Beijing for Johannesburg on Monday for a state visit to South Africa and to attend the BRICS Summit to be held from Tuesday to Thursday.

The visit is being widely welcomed by local scholars, who see it as a strong boost to deep-rooted China-South Africa relations as the two countries celebrate the 25th anniversary of the establishment of the bilateral diplomatic relations in 1998.

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🇿🇦 South Africa President Ramaphosa calls for reform of global financial system, lauds NDB's role in this direction

"..We require a fundamental reform of the global financial institutions so that they can be more agile and responsive to the challenges facing developing economies...," he told the XV BRICS Summit Business Forum on Tuesday.

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Audience cheers for Putin's address during BRICS summit

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❗️US sees no potential rival in BRICS, White House says

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❗️BRICS countries have to solve difficult problems against the backdrop of market volatility and inflationary pressure due to the irresponsible actions of a number of countries, President Putin says.

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❗️Dedollarization among BRICS members irreversible, Vladimir Putin says.

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❗️Moscow is ready to return to the grain deal if obligations to the Russian side really fulfilled, President Putin says.

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India will soon be the growth engine of the world, 🇮🇳 PM Narendra Modi says

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📹 Putin delivers an address at the 15th BRICS summit

"Dedollarization among BRICS members irreversible", President Putin says.

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🇮🇳Key Remarks Made by PM Modi at BRICS Summit:

▪️India Will Be Growth Engine of the World: PM Modi

▪️Reforms in Ease of Doing Business in India Have Improved Investor Sentiment

▪️Direct Bank Transfer Benefits Have Increased Transparency and Reduced Corruption

▪️Infrastructure Development - 10000 kms of highways every year, airports have doubled

▪️India is among world leaders in the area of renewable energy

▪️Income of Indians Have Tripled in the Last 9 Years

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🇿🇦 Exclusive: BRICS Summit: South African Minister Highlights Bloc as Alternative to Unipolar World

South Africa's Minister of Public Works and Infrastructure Sihle Zikalala has emphasized the importance of the BRICS economic bloc as an alternative platform that promotes cooperation among nations on an equal footing.

In an interview with Sputnik Africa on the sidelines of the #BRICSSummit2023, Zikalala expressed his belief that the global community seeks a platform where countries can collaborate without being dominated by the so-called "traditional superpowers"

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Army-2023 Military Technical Forum results

The week-long event provided a platform for about 1,500 domestic and foreign enterprises and organizations to demonstrate their creations: over 28,000 types of weaponry and dual-use products, according to the figures unveiled by the Russian Ministry of Defense.

The expo, which was held at several exhibition sites such as the Kubinka Airfield and the Patriot Exhibition and Convention Center, attracted over a million visitors both from Russia and abroad, and some 20 government contracts worth $4.3 billion in total were signed.

Check out Sputnik’s infographic to learn about the results of the Army-2023 expo.

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❔What will be the trajectory of BRICS development? Check out what Dr. Anuradha Chenoy, Retired Professor of the Centre for Russian and Central Asian Studies at Jawaharlal Nehru University thinks.

▪️President Putin spoke of the increasing share of trade in national currencies and that the share of the USD is declining. He committed to supporting food security for many African countries in need.

▪️ President Ramaphosa stated that the BRICS leaders would have a conversation on increasing trade in national currencies. He was critical of the WTO and asked for the creation of a new global financial architecture.

▪️ President Xi’s remarked on his Global Development Architecture and emphasized that China was opposed to hegemonic powers and would never be a hegemonic power itself.

💭All the leaders emphasized on connectivity and were confident of greater links between the BRICS as also the legitimacy of this Forum, Chenoy concluded.

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🇨🇳🇿🇦 Chinese leader Xi Jinping on new level of partnership between China and South Africa

🗣 "I ... am absolutely ready to work together with the [South African] president [Cyril Ramaphosa] to elevate comprehensive strategic partnership between China and South Africa to a new level," Xi said at a meeting with Ramaphosa.

The Chinese leader also said that it is important for the two countries to strengthen and expand cooperation and pass the bilateral friendship from one generation to another especially at a "new turning point in history."

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🇿🇦 Trade within BRICS topped $762Bln in 2022, South African President says

"As we celebrate the 15th anniversary of BRICS, trade between BRICS countries totaled $762 billion last year. Foreign investment has played an important role in the growth of BRICS economies. Total annual foreign direct investment into BRICS countries is four times greater than it was 20 years ago," Ramaphosa stated during the bloc's annual top-level summit, which is taking place from Tuesday to Thursday in Johannesburg.

The economic growth of BRICS countries "must be underpinned by transparency" as well as "be compatible with a multilateral trading system that supports a developmental agenda," the president of South Africa, which chairs the bloc in 2023, noted.

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🔺Biden compares the blaze-ravaged island of Maui to a kitchen fire
🔺Frozen frontlines loom: Ukrainian officer predicts standstill as winter approaches
🔺Day one of the 15th BRICS Summit in South Africa

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BRICS to deepen financial cooperation to reduce reliance on US dollar

The member states of the BRICS, the emerging market group of Brazil, Russia, India, China and South Africa, are widely anticipated to deepen financial cooperation in an upcoming gathering, in particular in the payment and currency sectors to counterbalance the hegemony of the US dollar, which has left emerging economies and developing countries struggling financially.

Based on the trade scale of the BRICS members and the increasing willingness of more countries to join the bloc, the process of de-dollarization, which has become an irreversible trend, will be accelerated, experts told the Global Times.

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