Mr. Putin: BRICS group has surpassed G7 'accounting for 40% of the global economy'

Russian President Vladimir Putin announced that the BRICS group has surpassed the G7 group of seven developed industrial countries (including the UK, Canada, France, Germany, Italy, Japan and the US) in terms of GDP.

Russian President Vladimir Putin attends the plenary session of the 17th BRICS Summit in Rio de Janeiro via video . Photo taken at the Kremlin, Moscow, Russia on July 6 - Photo: SPUTNIK

According to RT, speaking via video at the plenary session of the 17th BRICS Summit held in Rio de Janeiro (Brazil) on July 6, Russian President Vladimir Putin said that currently "BRICS member countries not only account for 1/3 of the Earth's land area and nearly half of the world's population, but also account for 40% of the global economy ".

"According to the International Monetary Fund (IMF) for 2025, the gross domestic product (GDP) of BRICS in terms of purchasing power parity (PPP) currently reaches 77,000 billion USD. With this index, BRICS far exceeds a number of other groups, including the G7," Mr. Putin noted.

The Russian president cited recent IMF data showing that the G7's respective GDP is only $57 trillion.

He also noted that BRICS member countries are increasingly using national currencies in intra-bloc transactions.

According to Mr. Putin, "BRICS has rightly asserted its position as one of the key centers of global governance," with "its global position and influence growing year by year." He affirmed that the group represents "the fundamental interests of the global majority."

President Putin hailed “mutual respect” as one of the core foundations of BRICS, helping to unite people of different cultures and religions and making the grouping attractive to developing countries.

Russia used to be a member of the Group of Eight leading industrial nations of the world (G8). The G8 includes France, Germany, Italy, Japan, the UK, the US, Canada, and Russia. However, in 2014, Russia was expelled from the G8 due to conflicts with the West after Russia annexed the Crimean peninsula. Since then, the group has had only seven heads of state meeting (G7).

The BRICS group of leading emerging economies includes Brazil, Russia, India, China, South Africa, and newly admitted members such as Egypt, Iran, Ethiopia, the United Arab Emirates (UAE) and Indonesia.

In June, Vietnam became the 10th BRICS partner country, alongside Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Nigeria, Thailand, Uganda and Uzbekistan.

PEACEFUL

Source: https://tuoitre.vn/ong-putin-nhom-brics-da-vuot-mat-g7-chiem-40-nen-kinh-te-toan-cau-20250707064452468.htm