Putin: BRICS surpasses G7 in global GDP share

Russian President Vladimir Putin highlighted that the BRICS nations' share of the global GDP has surpassed that of the G7 and continues to grow

"In 1992, the G7 accounted for 45.5% of global GDP, while BRICS stood at 16.7%. Now, in 2023, our association represents 37.4%, while the G7 is at 29.3%. The gap is widening and will continue to do so," Putin said at the BRICS Business Forum, News.Az reports, citing TASS.

Putin stressed that BRICS plays a significant role in the global economy not only today.

"It is quite obvious that this role will increase in the future as well. The countries that are part of our association are in fact the drivers of global economic growth. And it is in BRICS that the main increase in global GDP will be generated in the foreseeable future," the Russian rresident said.

The Russian leader stressed that the joint work of BRICS to accelerate socio-economic growth and ensure sustainable development brings tangible results, and actually contributes to improving the well-being and quality of life of ordinary citizens of our countries. According to Putin, the figures speak for themselves. He cited statistics according to which the association's combined GDP is more than $60 trillion, and its total share in the world's gross product confidently exceeds the corresponding figure for the so-called Group of Seven and continues to grow.

News.Az