Dr. Mohamed Abdel Hamid, Undersecretary of the Economic Affairs Committee in the Egyptian House of Representatives, said that Egypt’s official accession to the BRICS is a great and important step, and reflects the great efforts of the political leadership.
Abdel Hamid added in exclusive statements to “Sputnik” that this accession constitutes a very important economic relief for Egypt, as it will become one of the economic powers in the organization, which includes 5 important major countries in the world, stressing that Egypt also represents an added value to BRICS.
With regard to the economic repercussions of Egypt’s accession to the BRICS, Abdel Hamid said that this step would ease the pressure on the dollar, as it is scheduled to deal within the framework of member states with a single currency derived from the grouping, or the local currencies of the countries that are members of the BRICS.
Source: Sputnik
