Tooba Hatif Farooqi

Impact of budget on salaried individuals.

The BRICS countries {Brazil - Egypt - India - Iran - China - UAE - Russia - Ethiopia - South Africa - Saudi Arabia} agreed to conduct all transactions and payments in national currencies without the US dollar. The BRICS countries concluded an agreement with a number of countries, such as Thailand, Laos, Sri Lanka, Kazakhstan, Venezuela, and Bolivia, to make payments in national currencies. According to the President of Bolivia, Luis Arce, more and more countries in the world are working to develop payment systems capable of becoming an alternative to the dominance of the dollar and the euro. Luis Arce stressed the need to gradually develop payment alternatives, including the use of national currencies in trade, and added that the BRICS members are already doing this successfully. . According to a joint statement by the foreign ministers of the BRICS countries, they stressed the importance of wider use of national currencies in trade and financial settlements between them. According to President Putin, Russia, in cooperation with its partners, will work to increase the use of national currencies in foreign trade payments and improve the safety and efficiency of these operations. Among other things, BRICS is working to form an independent payment system that is not subject to political pressure, abuse and interference from external sanctions.