MINSK, 18 October (BelTA) - The economic growth of BRICS will depend less and less on external influence, Russian President Vladimir Putin said as he addressed the BRICS Business Forum, RIA Novosti reports.
“The economic growth of BRICS members will depend less and less on external influence. This is essentially economic sovereignty, a partnership of self-sufficient economies that enhances their potential and opens up new opportunities,” the Russian leader said.
The head of state stressed that BRICS members are the drivers of global economic growth. It is BRICS that will generate most of global economic growth in the foreseeable future. He explained that this will be facilitated by the development platforms created within the association: communication channels, technological and educational standards, financial system, payment instruments and mechanisms for sustainable, long-term investment.
Vladimir Putin noted that the aggregate GDP of the BRICS countries confidently exceeds that of the G7 countries and continues to grow. The Russian leader pointed out that currently the association's combined GDP is more than $60 trillion. Based on the results of the current year, the average economic growth in BRICS is projected at 4%. This is higher than that in the G7 countries (which is projected at 1.7%) and the expected global growth of 3.2%, Vladimir Putin said.
Vladimir Putin added that “the work of BRICS is not directed against anyone. It is aimed at only one common goal: the sustainable development and prosperity of our countries and peoples.” Realizing the potential of BRICS "will bring maximum benefits" to countries, businesses and all citizens.
