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BRICS countries will account for 35-40 per cent of global GDP
The statement by Dilma Rousseff, President of the BRICS New Development Bank (NDB), was made during her participation in the World Government Summit being held in Dubai.
"The power of the BRICS alliance is growing rapidly. Based on purchasing power parity, the BRICS countries account for 31.5 per cent of global GDP, surpassing the G7 countries which account for 30.8 per cent," said Rousseff.
The NDB president also noted that the share of developing countries in world trade continues to grow. She added that developed economies, on the contrary, are losing ground as their share of world exports is declining.
The new development bank was established by the BRICS countries on the basis of an intergovernmental agreement signed at the 6th BRICS Summit in Fortaleza in July 2014. This is reported by Brasil 247, a partner of TV BRICS.
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