Putin: Work is underway to create an international reserve currency based on a basket of currencies "Brix"

Russian President Vladimir Putin delivered a welcoming speech to the participants of the BRICS Business Forum, in which he spoke about the current economic situation in Russia and the challenges facing the business community of the BRICS countries.

In general terms, President Putin’s speech was as follows:

– Russia’s macroeconomic policy has shown its effectiveness against the backdrop of sanctions imposed against the country.

– Russia supports the BRICS initiative project in Beijing, which underlines the general mood of business circles for closer joint work.

Entrepreneurs in the BRICS countries develop their business in difficult conditions, while the West ignores the basic principles of a market economy.

The Russian system of financial correspondence is open for the interconnection of the banks of the BRICS countries.

– Currently, work is underway on the issue of creating an international reserve currency based on the BRICS currency basket.

Problems in the world economy have become chronic due to the actions of the West.

– The West is pursuing irresponsible macroeconomic policies, including the printing of unearned money, uncontrolled pumping, the growth of unsecured debt.

Source: Kremlin.

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