Putin: The share of BRICS in the global GDP will reach 36.6% by 2028

Russian President Vladimir Putin announced on Thursday that the share of the BRICS countries in the global GDP will reach 36.6% by 2028, while the share of the G7 countries will decrease to 27.8%.

According to Sputnik, Putin said in his annual speech to the Federal Assembly of Russia: “Even 10-15 years ago, the situation was completely different, because international trends have become objective, and by 2028, the situation will change even more in favor of the BRICS group.” will do. Its share will reach 36.6% of the world’s gross domestic product.

Putin stated that in the case of the G7, the expectations for 2028 are 27.8%, adding: There is no escaping this objective reality, and regardless of what will happen in the world and even in Ukraine, this reality will come true. be.

According to the report of the President of Russia, the gross domestic product of the BRICS countries based on purchasing power in 1992 was 19.3% of the global index, while in the G7 countries this figure was 45.7%. By the end of 2022, the difference was 34.4% in favor of BRICS, while among the G7 it was 30.3%.

On January 1, Russia became the chairman of the BRICS group for the next year, and Egypt, Ethiopia, Iran, the United Arab Emirates and Saudi Arabia were invited to join the group. And after all the new members join, BRICS will expand to include 10 countries with a population of 3.6 billion people, roughly half of the world’s population. These countries have more than 40% of the world’s oil production and about a quarter of the world’s goods exports.

The BRICS group consisted of Brazil, Russia, India, China and South Africa. But recently, 23 countries including Argentina, Iran, Algeria, Tunisia, Turkey, Saudi Arabia and Egypt have expressed their interest in joining this economic union.