In a striking forecast, Russian Deputy Prime Minister Alexander Novak revealed that the BRICS nations are on track to control over half of the global economy in the next 10 to 15 years, signaling a shift in global economic power.
Speaking to Russia-24 Television, Novak highlighted that BRICS, which currently represents around 35% of global GDP, is growing rapidly.
"It is getting bigger and bigger every year,"
he said, pointing out the significant economic contributions of countries like Brazil, China, and others within the bloc.
This projection underlines the bloc's expanding influence as it has already surpassed the economic output of the G7 nations. Initially comprising Brazil, Russia, India, China, and South Africa, BRICS expanded its membership in 2024 to include Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates.
With these additions, the collective economic weight of the BRICS bloc is expected to continue to rise, challenging the dominance traditionally held by Western nations. The growing influence of BRICS signifies not only a shift in global economic power but also a potential reconfiguration of international relations in the coming decades.
As the global economic landscape evolves, the BRICS nations are positioned to play a more dominant role, marking a new era of global economic dynamics.
News Source: Emirates News Agency
