Putin: BRICS states will drive economic growth

Russian President Vladimir Putin said at the BRICS Business Forum on Friday that the BRICS member states' gross domestic product (GDP) exceeds that of the G7 states and "continues to grow confidently," Azernews reports.

He said the total BRICS GDP growth is forecast at 4% for 2024, while G7 states are expected to grow 1.7%. BRICS includes Brazil, Russia, India, China and South Africa.

Putin said BRICS plays a "notable" and rising role in the global economy. He added that its member states are the drivers of economic growth and that the majority of GDP growth in the coming years will come from them.

He also claimed that their economies will depend less on "external influence" with time.

As it stands, BRICS consists of nine member countries: Brazil, Russia, India, China, South Africa, the United Arab Emirates, Iran, Egypt, and Ethiopia. Notably, 34 countries have submitted applications to join the organization, including Azerbaijan and Turkiye.