BRICS Expands, Surpasses G7 in Global GDP

The recent BRICS Business Forum in Moscow, hosted by Russian President Vladimir Putin, emphasized the increasing economic influence of the BRICS nations, which now include Saudi Arabia, Iran, Egypt, Ethiopia, and the UAE. President Putin highlighted that the BRICS countries now account for 37.4% of global GDP, surpassing the G7's 29.3%, and are expected to drive most of the world's economic growth in the coming years. Egyptian President Abdel Fattah Al-Sisi, in his recorded address, echoed the call for stronger economic cooperation and investment within the bloc, stressing the importance of sustainable development and economic reforms. Putin criticized the US for its sanctions and the diminishing role of the US dollar, advocating for BRICS to build economic sovereignty and counter Western dominance. The upcoming BRICS Summit in Kazan aims to further establish the group as a significant counterweight to the West, with leaders from China, India, and the UAE confirming their attendance.