from RT:
Emerging economies have outperformed their wealthier Western peers in contributing to global growth, Maksim Oreshkin has said
The latest International Monetary Fund (IMF) forecast indicating that the global economy is set to be driven by BRICS countries is an “objective reality,” Maksim Oreshkin, deputy head of the Russian President’s administration has said.
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In its World Economic Outlook published this week, the IMF said that the world economy will rely more heavily on the group of emerging economies than on the US-led G7 (Canada, France, Japan, Italy, the US, UK, and EU), according to the latest estimates based on purchasing power parity (PPP). The measure compares economic productivity and living standards between countries by adjusting for differences in the cost of goods and services.
The global GDP share of the G7 countries in terms of PPP has been in decline, dropping from 50.42% in 1982 to 29% in 2024. Meanwhile the BRICS countries’ contribution to global growth in terms of PPP is on the rise and will amount to 36.7% by the end of 2024, Vladimir Putin told a meeting of leaders at the BRICS Summit on Wednesday.
“This is an objective reality,” Oreshkin, who covers economy and transport in the presidential administration told Rossiya24 channel on the sidelines of the BRICS summit in Kazan on Thursday.
