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G7 no longer big, new growth centers have emerged — official

Maxim Oreshkin stressed that in light of today's agenda, it is important to remember why all these events are happening

ST. PETERSBURG, June 18. /TASS/. The economies of the G7 countries have ceased to be centers of global growth, and new growth centers have emerged, Deputy Chief of Staff of the Russian Presidential Executive Office Maxim Oreshkin stated speaking at the SPIEF session.

"We understand in many ways that the events that are currently taking place in the world are a consequence of the global structural changes that are taking place in the global economy. The centers of power are changing. If earlier these were the economies of the so-called "big seven," which has not been big for a long time, now these are new growth centers. And if 10, 20, 30 years ago the countries of the global south and east were largely responsible for economic growth, now they are a large part of the global economy," he said.

The official stressed that in light of today's agenda, it is important to remember why all these events are happening.

"It is important to have an open dialogue about how we can build the world of the future, how to form a new platform for global growth, in which countries this global growth will take place, on what principles and on what cultural code it will be built," he noted.

The St. Petersburg International Economic Forum (SPIEF) has kicked off and will be underway on June 18-21. This year, the forum’s main theme "Shared Values: The Foundation of Growth in a Multipolar World." Thematic zones such as the ‘Territory of Innovations’ and the national brand space ‘Buy Russian!’ will operate at the Forum. The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, the Drug Security Forum, and the Roscongress Urban Hub discussion platform. As part of the cultural program, the Petersburg Seasons festival will be held, and the SPIEF Sports Games will take place. The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its information partner.