In the last five years, BRICS countries accounted for more than 40 percent of the world's gross domestic product. The contribution of G7 countries to the global economy was 29 percent.
Modern.az reports that Russian President Vladimir Putin stated this during his speech at the BRICS Business Forum.
“It is not clear why this seven is called ‘great’,” the Russian leader said, commenting on the indicators of the G7 countries.
According to Putin, industrial production in the leading economies of the eurozone has decreased by 8 percent, and new “locomotives of development” are replacing the former leaders of the world economy.
The Russian President also stated that 30,000 sanctions have been imposed against his country. According to him, this is twice the number of sanctions imposed against other countries combined.
Putin said that the initiators of the sanctions themselves are facing economic decline and their ability to pursue innovative policies has weakened.
He also accused the West of putting pressure on logistics routes and trying to restore its former leadership by seizing ships.
Putin emphasized that BRICS is not a closed union and remains open to all countries of the world for mutually beneficial cooperation.
