Russian PM says BRICS role in global economy grows
“The weight of different countries in the global economy continues to shift. The contribution of the Global South and East, primarily the BRICS countries, is growing, while the G7's share is declining,” Mishustin says during a strategy session on foreign economic activity in Moscow, as reported by news agencies.
He stresses that Russia needs strong foreign economic engagement to drive growth across industries, boost demand for domestic products and services, and support emerging industrial and technological projects.
The prime minister acknowledges significant challenges, pointing to “mounting sanctions pressure” and rising tariffs, which he says have aggravated global trade imbalances.
To address these issues, Mishustin notes that the government is adjusting economic support policies to meet national objectives set by President Vladimir Putin, with a particular focus on developing a supply-side economy.
Originally made up of Brazil, Russia, India, China, and South Africa, BRICS has recently expanded its membership, positioning itself as a potential counterbalance to Western-led economic institutions.
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