MOSCOW, February 26 BRICS countries are developing a strategy actions in the face of risks to the global economy that emerged as a result of large debts and budget deficits in Western countries, Russian Finance Minister Anton Siluanov said in an interview.
The Minister recalled his experience of participating in financial G8 meetings. «Eight» — that was a long time ago. At meetings of the Ministry of Finance in such formats, Westerners did not discuss all issues with the Russian side. There was a separate agenda with Russia and an agenda without. There was no complete trust,” he admitted.
This is not the case at BRICS meetings, Siluanov said. “On the contrary, we are trying to coordinate our positions by participating in the G20.” We are discussing the world economy, the risks associated with large debts of Western countries, budget deficits, and developing our own strategy for action in these conditions,” said the head of the Ministry of Finance.
According to him, he has personal contact with colleagues from BRICS “It works out well.” “I have good relations with my Chinese colleagues. An inter-ministerial dialogue was held with the new Minister of Finance, Mr. Lan Foan. Business relations have also been built with the Ministry of Finance of India,» he added.
Russia became the chairman of BRICS for the coming year on January 1. It began with the accession of new members to the organization: following the results of the 2023 summit, a decision was made to invite Egypt, Ethiopia, Iran , UAE and Saudi Arabia. A meeting of BRICS finance ministers and central bank governors within the framework of the financial G20 will be held in Brazil this week, at which the official transfer of the chairmanship to Russia will take place.
After the accession of all new members, the BRICS membership will expand to 10 countries with a population of 3 .6 billion people — almost half of the world's total. These states account for more than 40% of world oil production and about a quarter of world exports of goods.