Putin: “BRICS” has surpassed the G7 in economic power.
According to Ilyum 7, on Wednesday, Vladimir Putin announced the significant growth of the “BRICS” economic group in the world economy at a meeting of the State Council Presidium on the issue of export development.
According to this report, the President of Russia, in a speech referring to the increasing economic growth of the BRICS member countries, announced the superiority of the “BRICS” members in the global economy compared to the G-7.
Putin further added: BRICS’s share in the global GDP was 16.7% in 1992, and in 2022, the G7 group’s share will be 30.5%, and in 2022, the G7’s share will increase to 30.5%. It was stable, but the share of BRICS reached 31.4% this year, and assessments show that in 2028, the share of the G7 group will be 7.9%, while the share of BRICS will increase to 33.8%.
Putin went on to emphasize that the ruble’s share in Russian exports has reached 40% and we continue to work in this direction, and at the same time, the share of Western currencies in the country’s financial transactions is decreasing.
He stated that despite the problems that this country’s trade is facing, Russia has an active and dynamic participation in international trade and will continue its activities in this direction.
Vladimir Putin added: Western actions against Russian financial institutions and payment systems (under the pretext of Moscow’s special operations in Ukraine) are hostile; But it does not affect Moscow’s determination.