٠٠:٠٦:٣٥Russian President Vladimir Putin claimed that the economic performance of BRICS nations was 'steadily surpassing' that of G7 countries, while addressing a BRICS Business Forum plenary session in Moscow on Friday.
"The combined GDP of the association is more than $60 trillion, and the total share of the gross world product (GWP) is steadily surpassing the corresponding figure of the so-called G7 and continues to grow," he said.
The Russian leader referred to the statistics comparing the growth dynamics of the BRICS and G7 share in the world's gross domestic product (GDP).
"In 1992, the G7's percentage of world GDP was 45.5 per cent. And in the same year, 1992, the BRICS countries reached 16.7 per cent of world GDP. And now, in 2023, our association is 37.4 per cent and the G7 is 29.3 per cent. The gap is widening and it will widen, it is inevitable. It's already an absolutely clear dynamic," Putin added.
The BRICS Business Forum runs ahead of the Kazan's Summit and focuses on the issues of financial and investment co-operation, international trade, agricultural business, and food security.
The 16th BRICS Summit is scheduled for October 22-24. Leaders from more than 24 countries are expected to attend, with Russia's closest neighbours and partners in the Eurasian Economic Union and Commonwealth of Independent States also invited. Russia has chaired BRICS since January 1, 2024.
BRICS 'steadily surpassing' G7 - Putin at Business Forum ahead of 16th Summit
Russian President Vladimir Putin claimed that the economic performance of BRICS nations was 'steadily surpassing' that of G7 countries, while addressing a BRICS Business Forum plenary session in Moscow on Friday.
"The combined GDP of the association is more than $60 trillion, and the total share of the gross world product (GWP) is steadily surpassing the corresponding figure of the so-called G7 and continues to grow," he said.
The Russian leader referred to the statistics comparing the growth dynamics of the BRICS and G7 share in the world's gross domestic product (GDP).
"In 1992, the G7's percentage of world GDP was 45.5 per cent. And in the same year, 1992, the BRICS countries reached 16.7 per cent of world GDP. And now, in 2023, our association is 37.4 per cent and the G7 is 29.3 per cent. The gap is widening and it will widen, it is inevitable. It's already an absolutely clear dynamic," Putin added.
The BRICS Business Forum runs ahead of the Kazan's Summit and focuses on the issues of financial and investment co-operation, international trade, agricultural business, and food security.
The 16th BRICS Summit is scheduled for October 22-24. Leaders from more than 24 countries are expected to attend, with Russia's closest neighbours and partners in the Eurasian Economic Union and Commonwealth of Independent States also invited. Russia has chaired BRICS since January 1, 2024.
Russian President Vladimir Putin claimed that the economic performance of BRICS nations was 'steadily surpassing' that of G7 countries, while addressing a BRICS Business Forum plenary session in Moscow on Friday.
"The combined GDP of the association is more than $60 trillion, and the total share of the gross world product (GWP) is steadily surpassing the corresponding figure of the so-called G7 and continues to grow," he said.
The Russian leader referred to the statistics comparing the growth dynamics of the BRICS and G7 share in the world's gross domestic product (GDP).
"In 1992, the G7's percentage of world GDP was 45.5 per cent. And in the same year, 1992, the BRICS countries reached 16.7 per cent of world GDP. And now, in 2023, our association is 37.4 per cent and the G7 is 29.3 per cent. The gap is widening and it will widen, it is inevitable. It's already an absolutely clear dynamic," Putin added.
The BRICS Business Forum runs ahead of the Kazan's Summit and focuses on the issues of financial and investment co-operation, international trade, agricultural business, and food security.
The 16th BRICS Summit is scheduled for October 22-24. Leaders from more than 24 countries are expected to attend, with Russia's closest neighbours and partners in the Eurasian Economic Union and Commonwealth of Independent States also invited. Russia has chaired BRICS since January 1, 2024.