The latest IMF figures reveal that BRICS nations will contribute 32.1 percent to global growth, compared to the G7's 29.9 percent.
The member states of the BRICS group, which include Brazil, Russia, India, China, and South Africa, are expected to surpass the US-led G7 states in economic growth expectations, according to a Bloomberg report.
Bloomberg estimates that the BRICS nations will contribute 32.1 percent of global growth, compared to the G7’s 29.9 percent, based on the most recent IMF figures.
According to the Bloomberg analysis, the G7 and BRICS nations each contributed equally to global economic growth in 2020. The western-led bloc’s performance, however, has since declined. The G7 is expected to make up just 27.8 percent of the global economy by 2028, while BRICS will make up 35 percent.
“In total, 75 percent of global growth is expected to be concentrated in 20 countries and over half in the top four: China, India, the US, and Indonesia. While Group of Seven countries will comprise a smaller share, Germany, Japan, the United Kingdom, and France are seen among the top 10 contributors,” Bloomberg reports.
Read more ....
IMF Says BRICS Set To Surpass G7 In Economic Growth
BRICS Nations Expected to Outpace G7 Countries in Economic Growth, Reaching Nearly 35% in Five Years -- Watcher.gru
BRICS Group to Outpace G7's Growth, Reach 35 percent of Global Economy by 2028 -- MENAFN
China, India to lead global growth over the next five years: IMF report -- Money Control
China will become the global economy's biggest growth driver in the next 5 years, doubling the US contribution, IMF says -- Business Insider
0 Response to "IMF Says BRICS Set To Surpass G7 In Economic Growth"
Post a Comment