BRICS Outpaces G7 Significantly in Economic Sector, Says Putin

BRICS outpaces G7 significantly in the economic sector. This statement was made by Russian President Vladimir Putin during the plenary session of the BRICS summit in Rio de Janeiro, which he attended via video link.

The Russian president noted that BRICS countries represent one-third of the Earth's land area, nearly half of the planet's population, and 40% of the global economy. According to the International Monetary Fund, the aggregate GDP of the alliance, in terms of purchasing power parity, reaches $77 trillion.

“By the way, with this indicator, BRICS significantly surpasses several other unions, including G7, which has a GDP of $57 trillion,” Putin stated.

He explained that the decision was connected to difficulties arising in the context of the requirements from the International Criminal Court (ICC). The Brazilian government has been unable to take a clear position that would allow Putin to participate in the meeting.

It should be noted that the BRICS summit is taking place in Rio de Janeiro on July 6-7. The Russian delegation in Brazil is headed by Foreign Minister Sergey Lavrov. On June 25, Russian presidential aide Yuri Ushakov announced that Putin would not participate in the BRICS summit in Brazil.