Russian president Vladimir Putin participates via video link at 17th BRICS Summit in Rio de Janeiro, Brazil, 6 July 2025. © Sputnik / Mikhail Metzel/Sputnik
BRICS has already surpassed the West-dominated Group of 7 in terms of full GDP, stated Russian president Vladimir Putin.
Speaking via video link at the 17th yearly BRICS Summit in Rio de Janeiro on Sunday, Putin said "BRICS associate states not only account for 1 3rd of the Earth's surface and almost half of the planet's population, but besides 40% of the world's economy".“BRICS’ combined GDP measured by purchasing power parity is already $77 trillion, as reported by the IMF in 2025”, added, noting that "in this respect, BRICS is well above any another groups, including the 7 Group".The Russian president cited fresh IMF figures indicating that the corresponding amount for the G7 was $57 trillion.He besides noted that the BRICS associate States are increasingly relying on their national currencies in inter-block trade.According to the President, “BRICS has well established its position among key global governance centres"and his "global position and receipts grow year by year".Putin argued that the group represented "the primary interests of the global majority".Putin praised ‘reciprocal respect’ as 1 of the cornerstones of BRICS, which helps bring together people of different cultures and religions and makes the group attractive to developing countries.
According to the president of Russia "a single-polar strategy of global relations that served the interests of the alleged "golden billion"," rapidly decays, giving way to a multipolar global economical system.
Speaking at the St. Petersburg global economical Forum last month, Putin likewise stated that the vanishing order of the planet has a deep neocolonial character.
He besides talked about the large transformation in the planet economy.At the same time, Kremlin spokesperson Dmitri Pieskov said that Russia did not consider the G7 which she was a associate of from 1998 to 2014, to be a real format, "because global trends indicate that G7's participation in global and global economical issues will inevitably decline".Founded mainly as an economical group in 2006, BRICS initially included Brazil, Russia, India and China, and in 2010 it was joined by South Africa.
In the last year Egypt, Ethiopia, the United arabian Emirates and Indonesia have besides become full members.At the Kazan summit in Russia last year, BRICS approved a fresh position ‘partner country’ in consequence to the increasing interest in membership shown by more than 30 countries.
Translated by Google Translator
source:https://www.rt.com/news/621099-putin-brics-outstrips-g-seven-combined-gdp/
