GDP of BRICS could surpass G7 in 2-3 years – senior Duma MP

(Before It's News)

The GDP of the BRICS countries may surpass that of the G7 within two or three years, as it has already hit $32.5 trillion and rising, claims State Duma Foreign Relations chief Aleksey Pushkov.

“In 2014, the total gross domestic product of BRICS countries reached 30 percent [of the world’s GDP – Ed.]. This is less than that of the G7, but the difference is seven or eight percent. The combined GDP of the BRICS countries, according to the International Monetary Fund is $32.5 trillion [by purchasing power parity - Ed.]; the G7’s is $34.7 trillion. Given that the BRICS members mostly show much higher growth rates than the G7, we can assume that in the next two or three years the aggregate GDP of the BRICS countries will exceed the G7’s,” said the head of the State Duma Foreign Relations Committee, Aleksey Pushkov, speaking to reporters at the first BRICS Parliamentary Forum in Moscow …. http://rt.com/business

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