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Putin noted that the GDP of BRICS countries exceeded USD 60 trillion last year, accounting for about 37.4% of the global GDP, and higher than the 29.3% of G7 countries.
Russia’s President Vladimir Putin said the BRICS group will generate most of the global economic growth in the coming years due to its size and relatively fast growth.
He was speaking at the bloc’s business forum recently which comes ahead of the BRICS summit. The summit is taking place in the Russian city of Kazan from 22-24 October. Putin noted that the GDP of BRICS countries exceeded USD 60 trillion last year, accounting for about 37.4% of the global GDP, and higher than the 29.3% of G7 countries.
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The opportunity for South Africa and for the African continent that is presented by BRICS is massive, said Busi Mabuza, the chairperson of the South Africa chapter of the BRICS Business Council. She said her country had already seen a growth in trade because of its presence in BRICS. The secretary general of the Federation of Egyptian Chambers of Commerce, Alaa Ezz, said Egypt has many projects within Africa. He added that Egypt imports 50% of its food, with BRICS as one of the main suppliers.
