Opinion: economic growth cannot be built on the hostile country’s currency

BRICS, like the Union State, is now actively addressing the issue of freeing sovereign states from US Dollar dependence and gaining complete financial freedom – as noted by BISI analyst Aleksei Avdonin in his talk with Belarus 1 TV channel

Domestic trade is actively growing in Belarus. “In January-July 2023, retail trade turnover exceeded 105 percent in comparable prices compared to the level of the corresponding period last year,” the expert noted.

Aleksei Avdonin noted that foreign economic transactions are growing at the same time, “Thus, transshipment of Belarusian export cargo through Russian territory will triple by the end of the year. Belarus is actively developing the Russian market thanks to import substitution. Our country can supply up to 15 percent of the equipment for the public transport renewal programme in Russian regions.”

Belarus is focused on expanding its export presence in other BRICS countries: Brazil, India, China and South Africa. “Our country has submitted an application to join the bloc together with Egypt, Iran, Argentina, Algeria, Bangladesh, Ethiopia, Venezuela and Saudi Arabia,” the BISI analyst added

The expert explained, “BRICS, like the Union State, is now actively addressing the issue of leaving sovereign states from US Dollar dependence and gaining complete financial freedom. Economic growth cannot be built on the currency of a hostile country.”