BRICS on course to challenge Western dominance: Russia

Undeterred by U.S. President Donald Trump's repeated threats, Russia Saturday said BRICS countries are well on course to challenge the Western dominance

[Russian Deputy Prime Minister Alexander Novak in a file image (Source: X/nexta_tv)]

Moscow: Undeterred by U.S. President Donald Trump's repeated threats, Russia Saturday said BRICS countries are well on course to challenge the Western dominance.

BRICS nations comprise of Brazil, Russia, India, China and South Africa. The block last year inducted Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates as new members to expand the block as BRICS+.

BRICS countries also rolled-out their own currency in an attempt to replace U.S. dollar as world currency of trade.

Angered by this, Trump had threatened to impose 100% tariff on BRICS countries.

"BRICS Collective GDP"

However, BRICS nations are rapidly emerging as dominant players in the global economy, with their collective GDP expected to surpass half of the world’s economic output within the next 10 to 15 years.

“BRICS is a potentially high volume of global GDP, about 35%, and it is getting bigger and bigger every year. The association includes large countries – Brazil, China,” Russian Deputy Prime Minister Alexander Novak said in an interview with Russia-24 Television channel and published by BRICS portal.

“We expect that in the next 10-15 years the share of BRICS countries’ GDP will be more than half of the entire global economy", he added.

The optimistic outlook reflects the increasing economic weight of BRICS nations whose combined output al – ready exceeds that of the G7.

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