President Putin Highlights BRICS Economic Growth and Africa's Emerging Role
During the 29th St. Petersburg International Economic Forum, Russian President Vladimir Putin emphasized the growing economic influence of the BRICS nations, which include Brazil, Russia, India, China, and South Africa. Putin noted that these countries now account for nearly half of global economic growth and have significantly increased their share of global merchandise trade. The BRICS bloc, according to Putin, represents about 40% of global GDP when measured by purchasing power parity. The forum also highlighted Africa's potential as a future economic powerhouse, with Tanzanian President Samia Suluhu Hassan pointing out the continent's demographic and economic trajectory. She emphasized that by 2050, Africa will be home to one in four people globally, and the African Continental Free Trade Area is set to become the world's largest market by population.