Putin: BRICS makes up 40% of world economy
Russian President Vladimir Putin emphasized that the BRICS group has become one of the leading drivers of global economic growth, contributing approximately 50% of the GDP growth over the past five years. Its share of the global economy is about 40% based on purchasing power parity. Additionally, intra-BRICS trade volume exceeds one trillion dollars annually, with efforts underway to establish independent development paths. Domestically, Russia aims for sustainable growth to return in 2024 and to reduce inflation to around 5.2%, while maintaining a low unemployment rate of 2.2%. In the technological sector, Russia has made progress in developing digital platforms and e-commerce, which are growing at an annual rate of 30%.
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