In 2023, BRICS participation in the global economy rose to 35%
Internet
Published at: 31/01/2024 06:52 PM
The participation of BRICS countries (Brazil, Russia, India, China and South Africa) in the world economy increased from 31% to 35% in 2023, which is higher than that of the Group of Seven (G7), said the director of the Russian Central Bank, Elvira Nabiulina, reported the Sputnik website.
“With the accession of new members, the share of the BRICS in the global economy increased from 31% to 35%, based on the 2023 purchasing power parity results. And these figures slightly exceed the participation of the G7 countries,” said the official.
The BRICS group, initially comprised of Brazil, Russia, India, China and South Africa, defines itself as an association of emerging markets and developing countries, founded on historic bonds of friendship, solidarity and shared interests.
Last year, the group invited Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia and Iran to join. These countries became full members on January 1st.
Argentina was also going to join the block, but the new government of Javier Milei, who assumed the presidency in December 2023, refused the invitation.
Mazo News Team