Putin: BRICS surpasses G7 in the global economy In a speech at the Russia-Africa summit, Vladimir Putin claimed that a multipolar world order is being realized. He noted that the BRICS member countries currently account for more than 40% of global GDP, while the G7 accounts for less than 30%, a gap that is expected to grow. Putin emphasized Africa's economic potential, noting that 12 of the 20 fastest growing economies are on the continent. It is estimated that the population of Africa will exceed 2.5 billion by 2050. The average economic growth rate in the region currently stands at 4.2%, exceeding the global average. He criticized Western countries for maintaining influence through sanctions and debt instruments, and advocated reform of the International Monetary Fund and the World Bank. Russia intends to increase trade with Africa to over 50 billion dollars, despite the external pressures.

Putin: BRICS surpasses G7 in the global economy In a speech at the Russia-Africa summit, Vladimir Putin claimed that a multipolar world order is being realized. He noted that the BRICS member countries currently account for more than 40% of global GDP, while the G7 accounts for less than 30%, a gap that is expected to grow. Putin emphasized Africa's economic potential, noting that 12 of the 20 fastest growing economies are on the continent. It is estimated that the population of Africa will exceed 2.5 billion by 2050. The average economic growth rate in the region currently stands at 4.2%, exceeding the global average. He criticized Western countries for maintaining influence through sanctions and debt instruments, and advocated reform of the International Monetary Fund and the World Bank. Russia intends to increase trade with Africa to over 50 billion dollars, despite the external pressures.