Chinese President Xi Jinping, left, and Dilma Rousseff, chair of the New Development Bank, clink glasses at a reception to mark the BRICS summit in Kazan, Russia, on Oct. 23. Russian President Vladimir Putin is at center. (Pool photo via Reuters)
Leaders of the nations in the BRICS grouping, which accounts for 37% of global economic output, predicted its influence would grow as they met in Russia on Tuesday, outlining common projects ranging from a grain exchange to a cross-border payments system.
Russia’s President Vladimir Putin, who has sought support from BRICS leaders amid his standoff with the West over the war in Ukraine, said that BRICS’ average economic growth in 2024/25 would be 3.8%, compared to global growth of 3.2-3.3%.
