Urgent | America warns of the decline in the value of the dollar, and Sisi makes the difficult decision to save it


https://www.youtube.com/watch?v=an0JKivTF0o
Updates on Egyptian economic affairs presented in this episode of Samri Channel.
The Egyptian media reported that Egypt had reaped the first fruits of joining the BRICS group after South Africa announced the activation of preferential trade within the free trade agreement with Egypt. Egyptian media reported that Egypt had reaped the first fruits of joining the BRICS group after South Africa announced the activation of preferential trade within the free trade agreement with Egypt. She explained that this matter adds a new chapter of economic cooperation and opens the door to enhancing the volume of trade between Egypt and South Africa, which witnesses great opportunities for cooperation, especially with Egypt joining the BRICS countries this year.

Referring to the official figures, data from the Central Agency for Public Mobilization and Statistics monitored the development of the volume of trade exchange between Egypt and South Africa, reaching about 217.1 million dollars by the end of 2021, compared to 158.5 million dollars during the year 2020, an increase of 58.6 million dollars, with an increase rate of 37%. Distributed among Egyptian exports to South Africa worth $128.9 million during the year 2021 compared to $75.2 million during the year 2020, an increase amounting to $53.7 million, an increase of 71.5%, while the value of Egyptian imports from South Africa recorded about $88.2 million during the year 2021 compared to $83.3 million during the year 2020, an increase of about $4.9 million, an increase of 5.8%.

On the investment level, the value of South African investments in Egypt recorded about $74.6 million during the fiscal year 2019/2020, compared to $10.6 million during the fiscal year 2018/2019, an increase of about $64 million, an increase of 600.5%. The list of goods exchanged between Egypt and South Africa includes about 5 commodities that are the most important in trade exchange between the two sides. The list of Egypt’s exports to South Africa included plastics and their products, followed by Egypt’s exports of fruits, inorganic chemical products, exports of sugar and sugar products, and finally vegetable preparations. On the other hand, Egypt’s list of imports from South Africa included cars, tractors, and bicycles, followed by imports of copper and its products, imports of cast iron “zahr,” various chemical products, and finally imports of boilers and machinery.

In the same context, the BRICS group, which includes powers of varying economic size and political system, shares one goal, which is to limit the dollar’s control over the trade movement, as well as finding alternatives to a global system dominated by the dollar and Western powers. Here, the idea of getting rid of the dollar’s dominance collides with the crisis of reaching an agreement between member states. In the grouping with the aim of issuing a unified currency for the countries of the grouping, which can be relied upon as a currency for the movement of trade or rely on the local currencies of the member states. Brazil supports the idea of ​​establishing a unified currency among the “BRICS” countries, as Lula da Silva, President of Brazil, stressed that launching a currency is an important step. Aiming to challenge global blocs, or the United States of America, he said that the group does not reject the US dollar, but rather seeks to complete trade exchange between its members in local currencies at times. The statements of the Brazilian President are largely consistent with continuous assurances from the Russian President, Vladimir Putin, on The BRICS countries' desire to rely on local currencies in commercial exchanges, and Putin said, "The goal of getting rid of the dollar irreversibly in our economic relations is gaining momentum."

Recently, Brazilian President Lula da Silva called on the BRICS countries to establish a common currency for trade and investment among them, as a means of reducing their exposure to fluctuations in the exchange rates of the dollar, according to Reuters, and this call was welcomed by Russia, which for its part revealed that the BRICS countries are considering launching platforms. A unified payment to member states, according to what was announced by Russian Foreign Minister Sergei Lavrov.

Lavrov said that there is a directive from the heads of BRICS member states issued at last year's summit for central banks and finance ministries to submit recommendations regarding alternative payment methods to Western payment systems until the next summit in Russia, according to the Russian news agency TASS. He added that Brazil actively supports and promotes the launch of alternative payment systems and a unified currency for the BRICS group, adding that the issue of launching a unified currency for the group has little prospects at the present time, but he stressed that there are directives from BRICS leaders at the current stage to consider the issue of launching payment platforms. Uniform. This call was welcomed by South Africa, and neither China nor India have commented so far, and up to this moment no signs of movement have appeared on the ground regarding the unified currency or the prospective payment platform revealed by Russia, but economists have pointed out some difficulties that must be overcome given Due to the economic, political and geographical differences between Brazil, Russia, India, China and South Africa, in addition to the newly joined countries in early 2024.

#Dollar
#News
#Egypt

Dey play.

Who is Sisi?
The video is not in English, and there are no subtitles.