BRICS to play ‘key role’ in world future: Iran's envoy

Iran’s Ambassador to Moscow Kazem Jalali says de-dollarization is a key focus of the BRICS agenda in the near future.

News ID: ۲۰۰۰۷۴۸

30 January 2025

EghtesadOnline: Iran’s Ambassador to Russia Kazem Jalali says the BRICS group of emerging economies will play a key role in shaping the future of the world.

Speaking to reporters in Moscow on Thursday, Jalali said one major reason for BRICS’s growing influence is the current international power structure, which is both slow and ineffective in addressing global issues.

The ambassador described de-dollarization as a key focus of the BRICS agenda in the near future. He predicted that by 2030, the US dollar’s share in central bank reserves will decrease from 58% to approximately 35-40%.

Jalali pointed out that projections for 2030 suggest BRICS countries will make up 48% of the world’s Gross Domestic Product (GDP). As the economic indicators for the G7 nations decline, BRICS’s economy is expected to surpass a third of the global GDP and its exports to account for about a quarter of global exports, he added.

Moreover, he said the New Development Bank (NDB) of BRICS is on course to become an alternative to the World Bank and Western development mechanisms.

Jalali said the year 2024 was a turning point for BRICS, as the bloc expanded from five members to ten. In 2023, during the BRICS summit in South Africa, five countries, including Iran, were invited to join the group. / Mehr