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".