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BRICS-G7 gap in purchasing power parity to widen thanks to new members — MFA

As the Russian deputy foreign minister stressed, even now the GDP at purchasing power parity of the new BRICS members stands at $7.7 trillion

MOSCOW, August 25. /TASS/. The accession of new members to BRICS will widen the gap between the association and the Group of Seven (G7) in global GDP in terms of purchasing power parity. Russian Deputy Foreign Minister Sergey Ryabkov said at a press conference on the results of the BRICS summit in South Africa.

"BRICS continues to grow stronger. In recent years, the share of the BRICS countries in world GDP in terms of purchasing power parity has steadily outperformed the Group of Seven, and with the accession of the new countries, this gap will become even larger," the deputy minister said.

As Ryabkov stressed, even now the GDP at purchasing power parity of the new members of the association stands at $7.7 trillion.

"This will add a big chunk in terms of the separation of the BRICS from the Western G7," he concluded.

The 15th BRICS Summit was held on August 22-24 in Johannesburg under the chairmanship of South Africa. It became the largest meeting of heads of state and government of the Global South in recent years. The invitees included the leaders of 54 African countries. The summit participants agreed that from January 1, 2024, Argentina, Egypt, Iran, the United Arab Emirates, Saudi Arabia and Ethiopia will join the association. A new list of possible members of the association will be prepared for the next summit.

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Foreign policy Russian Foreign Ministry BRICS

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