After 2020, the BRICS countries, including Brazil, Russia, India, China and South Africa, are ahead of the G7 countries in terms of their contribution to global economic growth. In this respect informs Bloomberg cites data from the International Monetary Fund (IMF). As the publication said, already in 2020 the indicators of the alliance were at the same level, and in the future, the indicators of Western countries began to decline.
“This year, the balance will be 32.1 percent and 29.9 percent in favor of the BRICS countries. In 2028, this figure will already be 33.6% and 27.8% respectively”quotation According to Rossiyskaya Gazeta).
April 12 at the IMF declarationAmid growing global financial uncertainty, the UK’s economic performance is projected to be the worst of the G7 in 2023. According to IMF projections, the UK’s GDP could shrink by 0.3% in 2023 and grow by 1% next year. This makes the UK the second G7 member after Germany to face an economic downturn.
Previously, the IMF raised Russia’s 2023 GDP growth forecast to 0.7%, worsening its growth prospects for 2024 to 1.3%.
Source: Gazeta
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