https://en.sputniknews.africa/20230418/brics-surpasses-g7-in-economic-growth-contribution-imf-says-1058680481.html
BRICS Surpasses G7 in Economic Growth Contribution, IMF Says
BRICS Surpasses G7 in Economic Growth Contribution, IMF Says
Sputnik Africa
The BRICS countries are ahead of G7 (the Group of Seven) in terms of their overall contribution to global economic growth from 2020, the trend will continue until at least 2028, the IMF reports.
2023-04-18T11:55+0200
2023-04-18T11:55+0200
2023-08-03T10:48+0200
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BRICS countries are ahead of the G7 Group of Seven in terms of their overall contribution to global economic growth since 2020, the IMF has reported. According to the IMF, BRICS countries - Brazil, Russia, India, China and South Africa – will provide 32.1% of global economic growth this year and 33.6% in 2028. The Washington-based body expects the trend to continue until at least 2028.At the same time, G7 countries (Britain, Germany, Italy, Canada, France, Japan and the USA) will provide 29.9% in 2023 and only 27.8% in 2028.The IMF's World Economic Outlook also states that China will make the largest contribution to global economic growth over the next five years, with its share being twice as large as that of the United States. China's share in global gross domestic product growth is expected to account for 22.6% by 2028, according to the agency's calculations. This is followed by India – 12.9%, and the USA will provide 11.3%.In total, 75 percent of global growth is expected to be concentrated in 20 countries and more than half in the four leading ones: China, India, the USA and Indonesia. At the same time, the G7 will make up a smaller share, with Germany, Japan, the United Kingdom and France being the top ten donors.BRICS is an informal grouping of the world's major developing economies. The four founding BRICS member-states – Brazil, Russia, India, and China – originally established the bloc in 2005. After South Africa joined the bloc in 2010, its name was changed to BRICS.
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brics countries, brics members, g7 countries, the group of seven, contribution to, global economic growth, from 2020, the trend will continue, imf reports, world economic outlook is a survey issued by the international monetary fund, two times per year, staff economical analysis, economic developments, economic growth, leading world economies, global economic growth, united states, south africa
brics countries, brics members, g7 countries, the group of seven, contribution to, global economic growth, from 2020, the trend will continue, imf reports, world economic outlook is a survey issued by the international monetary fund, two times per year, staff economical analysis, economic developments, economic growth, leading world economies, global economic growth, united states, south africa
BRICS Surpasses G7 in Economic Growth Contribution, IMF Says
11:55 18.04.2023 (Updated: 10:48 03.08.2023) The World Economic Outlook is a survey issued by the International Monetary Fund (IMF) twice a year. It depicts the IMF economists' analysis of developments, including the prospects for economic growth among leading world economies and their contribution to global growth.
BRICS countries are ahead of the G7 Group of Seven in terms of their overall contribution to global economic growth since 2020, the IMF has reported.
According to the IMF, BRICS countries - Brazil, Russia, India, China and South Africa – will provide 32.1% of global economic growth this year and 33.6% in 2028. The Washington-based body expects the trend to
continue until at least 2028.
At the same time, G7 countries (Britain, Germany, Italy, Canada, France, Japan and the USA) will provide 29.9% in 2023 and only 27.8% in 2028.
The IMF's World Economic Outlook also states that
China will make the largest contribution to global economic growth over the next five years, with its share being twice as large as that of the United States.
China's share in global gross domestic product growth is expected to account for 22.6% by 2028, according to the agency's calculations. This is followed by India – 12.9%, and the USA will provide 11.3%.
In total, 75 percent of global growth
is expected to be concentrated in 20 countries and more than half in the four leading ones: China, India, the USA and Indonesia.
At the same time, the G7 will make up a smaller share, with Germany, Japan, the United Kingdom and France being the top ten donors.
BRICS is an informal grouping of the world's major developing economies. The four founding BRICS member-states – Brazil, Russia, India, and China – originally established the bloc in 2005. After South Africa joined the bloc in 2010, its name was changed to BRICS.
