Russian President Vladimir Putin claims that the BRICS group will lead global economic growth in the coming years, surpassing developed Western nations, Reuters reports. He made the comments at a BRICS business forum in Moscow Friday. The Russian leader emphasized BRICS' size and faster growth, noting the group's increasing economic independence from external interference.
BRICS, now expanded to include Egypt, Ethiopia, Iran, and the UAE, is seen by Putin as a counterweight to Western dominance in global trade and politics. During the forum, Putin reiterated the group's goal of economic sovereignty and highlighted upcoming initiatives, including a cross-border payments system and alternatives to SWIFT.
The October summit in Kazan will explore further expansion, with 30 countries expressing interest in joining BRICS. Putin stressed that BRICS remains open to new members while acknowledging that talk of a common currency is premature. Leaders from China, India, and the UAE have confirmed they will attend the October summit.
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