Russian President Vladimir Putin stated that Europe and North America are losing their positions in the global economy.
The head of the Russian state made this statement on September 26 at the plenary session of the Russian Energy Week.
Putin's words are quoted by the Kremlin press service .
What Putin Said About Economic Growth in the 21st Century
The Russian President stated that the world has entered an era of fundamental and irreversible changes.
According to him, the emerging multipolar model is launching a new wave of global growth for the entire 21st century, and this growth will be concentrated not in Europe and North America, which are losing their positions in the global economy, but in the BRICS countries and countries planning to join this association.
Putin noted that in 1992, the share of the G7 countries in global GDP was 45%, while that of the BRICS countries was 22%.
According to the results of last year, the Russian President continued, the share of the Group of Seven countries decreased to 30%, while that of the BRICS countries increased to 36%.
And the pace is increasing, the gap is widening, ” added the head of the Russian state.
