Putin: BRICS countries lead the growth of the world economy
Russian President Vladimir Putin criticized the G7 countries at the BRICS Business Forum in New Delhi and emphasized the economic power of BRICS.
Quick Look
- In his speech at the BRICS Business Forum in New Delhi, Russian President Vladimir Putin stated that the share of BRICS countries in global GDP exceeded that of G7.
- Criticizing the competitive methods of Western countries, Putin stated that growth continued despite the sanctions against Russia.
AI-generated summary
Why It Matters
BRICS countries aim to create an alternative bloc to the economic dominance of G7 countries by increasing their share in the world economy.
According to the statement made by the Kremlin Palace, Putin attended the BRICS Business Forum held in New Delhi, the capital of India.
Speaking at the forum, Putin pointed out the importance of BRICS and said, "While 40 percent of the world's Gross Domestic Product (GDP) belongs to the BRICS countries, the share of the G7 is 29 percent. I do not understand why the G7 is called large. In the same period, almost half of the growth in the world economy was provided by the countries in our partnership, while the share of the G7 was only 18 percent." made his assessment.
Putin criticized the actions of Western countries and said:
"Western rivals are using all means to regain their past leadership position. Competition has reached unpleasant levels today. Steps are being taken to destroy industrial and logistics facilities and pipelines. Attempts are being made to block international transportation corridors and seize maritime vessels. Sanctions are being imposed against those who defend their national interests."
Noting that more than 30 thousand sanctions have been imposed on Russia, Putin stated that his country continues to develop under difficult conditions.
President Putin stated that the capabilities of BRICS should be used and that the organization is open to all countries.
Open Questions
- What are BRICS' expansion plans?
- What is the long-term economic impact of sanctions on Russia?
