Putin: BRICS to Achieve Most of Global Economic Growth in Coming Years

Russian President Vladimir Putin said on Friday that the BRICS group will achieve most of the global economic growth in the coming years thanks to its member states and their relatively rapid growth compared to developed Western countries.

Putin hopes the BRICS group will become a powerful entity that rivals the West in politics and trade globally. The group has expanded to include Egypt, Ethiopia, Iran and the UAE as well as its members Brazil, Russia, India, China and South Africa.

Russia is scheduled to host the group’s summit in Kazan from October 22 to 24.

“The member states of the group are the main driver of global economic growth,” Putin told a group of officials and businessmen at a BRICS business forum in Moscow. In the near future, the BRICS group will achieve the major increase in global GDP.”

"The economic growth of BRICS member states will depend less on external interference or influence," Putin added. And that basically means economic sovereignty.”

Moscow presents next week’s summit as evidence of the failure of Western efforts to isolate Russia over its war in Ukraine.

China, India and the UAE on Friday confirmed their participation in the summit.