Putin Says BRICS Economic Growth Is Now a Major Engine of Global Expansion
At the St. Petersburg forum, Putin said BRICS economic growth is a key engine of global expansion, citing GDP, $1tn trade, tech gains and Russia’s targets.
Strong claim at St. Petersburg forum
President Vladimir Putin told delegates at the St. Petersburg International Economic Forum that BRICS economic growth has become one of the principal drivers of the global economy.
He said roughly half of global GDP growth over the past five years came from BRICS countries, while the G7’s contribution was about 18 percent.
Putin presented the figures to underscore a shift toward emerging markets as new centres of growth and influence.
BRICS share of global output and purchasing power
Putin cited purchasing power parity estimates to show BRICS now account for about 40 percent of the world economy, compared with less than 29 percent for the G7.
The Russian leader used these metrics to illustrate how a changing economic map is reshaping global policymaking and market dynamics.
He also highlighted that intra-BRICS trade exceeds $1 trillion annually, reinforcing the bloc’s growing commercial integration.
New development paths for emerging economies
According to Putin, rising economies are increasingly choosing independent development trajectories and setting priorities based on national interests.
He said new growth centres are defining strategies that reflect local needs rather than following external templates.
That autonomy, he argued, is enabling more resilient and diversified economic models across BRICS members and partners.
Russia’s macro targets and labour market
On domestic policy, Putin said the Russian government aims to return to sustainable growth starting next year as inflation moderates.
He set an expected inflation rate of about 5.2 percent by the end of the year and noted Russia’s unemployment rate stood at 2.2 percent, among the lowest in major industrial economies.
Those figures were presented to signal macroeconomic stability and to bolster investor confidence amid external challenges.
Technology and digital commerce advances
The president stressed that technological progress is central to global transformations and to Russia’s economic strategy.
He said Russia has made advances in digital platforms and that e-commerce is expanding at roughly 30 percent annually, creating new channels for trade and services.
Putin framed tech development as a key vector for sustaining long-term competitiveness and for deepening economic ties with partners.
Broad international participation at the forum
Putin pointed to the participation of more than 130 countries at the forum as evidence of Russia’s openness to economic and technological cooperation.
He emphasised that collaboration should be conducted on the basis of mutual respect and shared interests rather than confrontation.
The turnout underscored the forum’s role as a diplomatic as well as an economic platform for connecting emerging and established markets.
The addresses and statistics delivered at the St. Petersburg forum reflect a wider narrative advanced by leaders from BRICS and other emerging economies about shifting centers of growth, and they set expectations for closer South-South trade and technology cooperation in the years ahead.