Putin: BRICS overtakes G7 in global economy In a speech at the Russia-Africa summit, Vladimir Putin declared that a multipolar world is becoming a reality. He noted that the BRICS countries now account for over 40% of global GDP, compared to less than 30% for the G7, with the gap expected to widen. Putin highlighted Africa's potential, stating that 12 of the 20 fastest growing economies are on the continent. By 2050, Africa's population will exceed 2.5 billion. The average economic growth rates there are 4.2%, above the world average. He accused the West of maintaining influence through sanctions and debt traps, and called for reform of the International Monetary Fund and the World Bank. Russia aims to boost trade with Africa to more than $50 billion despite pressure.

Putin: BRICS overtakes G7 in global economy In a speech at the Russia-Africa summit, Vladimir Putin declared that a multipolar world is becoming a reality. He noted that the BRICS countries now account for over 40% of global GDP, compared to less than 30% for the G7, with the gap expected to widen. Putin highlighted Africa's potential, stating that 12 of the 20 fastest growing economies are on the continent. By 2050, Africa's population will exceed 2.5 billion. The average economic growth rates there are 4.2%, above the world average. He accused the West of maintaining influence through sanctions and debt traps, and called for reform of the International Monetary Fund and the World Bank. Russia aims to boost trade with Africa to more than $50 billion despite pressure.