The economist spoke about the gap between the contribution of the BRICS and the G7 to the global economy

The share of the BRICS countries in the global economy, calculated by purchasing power parity (PPP), has reached 36.8%, but in nominal terms the G7 is still ahead of the alliance of developing countries. This opinion was shared by Georgy Ostapkovich, Director of the Center for Economic Studies at the Higher School of Economics, in an interview with Izvestia on April 30.

According to him, the main contribution to the growth of the BRICS economy is made by China, which accounts for two thirds of the total GDP of the association.

"Last year, China grew at a rate of about 5%. Naturally, the share of BRICS has increased. The share of G7 countries is not growing at such a pace. Other members of the alliance are also showing good results: Brazil, Russia — 4.2%. This is higher than in the G7 countries and Western European countries," the economist explained.

He stressed that developing economies have traditionally grown faster than developed ones. However, the current global trade situation poses risks.

"There is a huge background of uncertainty today due to Donald Trump's policies. Because of this chaos, the global economy may enter stagnation and then recession, which will trigger crises. Nevertheless, the current trend continues.: BRICS is growing faster than Western economies," Ostapkovich concluded.

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Earlier, on April 29, Maxim Oreshkin, Deputy Head of the Presidential Administration of the Russian Federation, noted the growing role of the BRICS countries in the global economy. According to him, at the beginning of the 21st century, the BRICS countries accounted for less than 25% of the global economy. However, according to the latest data, this figure has increased to a third.