BRICS Surpasses G7 In Global Economy Share - Vladimir Putin
Date
10/23/2024 9:12:40 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, October 23. The share of
BRICS states in the global Economy will exceed that of the G7,
Russian President Vladimir Putin said at a meeting of the BRICS
summit in a wide-ranging session, Trend reports.
“The share of BRICS countries in purchasing power parity at the
end of 2024 will be 36.7 percent, which confidently exceeds the
share of the Group of Seven countries; their share will be 30
percent. The share of 30 percent was at the end of 2023, and in
2024 it will be a little higher," he said.
The Russian President added that, by estimates, the average
growth of the BRICS economies in 2024-2025 will amount to 3.8
percent, while the global GDP will increase by 3.2-3.3 percent.
To note, the 16th BRICS summit kicked off in Kazan on October
22. It consists of two parts. The first one is a meeting of the
organization's member countries dedicated to the theme
“Strengthening Multilateralism for Just Global Development and
Security”, which is the motto of the Russian BRICS chairmanship in
2024. The second part will be a "BRICS Plus/Outreach" meeting,
centered on the theme "BRICS and the Global South – Together
Building a Better World".
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