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BRICS contributed 32% to global GDP, says bloc's business council

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Head of the BRICS Business Council, Stavros Nicolaou, said the bloc's contribution to the global GDP was a show of force as the emerging markets look to set a new economic agenda.

The BRICS 15th annual summit is set to kick off in Sandton on Tuesday where Brazil, Russia, India, China and South Africa will discuss a number of issues to bolster the group’s financial muscle.

Nicolaou addressed delegates at the progressive business forum’s dinner gala in Midrand on Monday night. This means the bloc has narrowly eclipsed the G7 group of countries, including the US and Canada, which contribute 30% of the global GDP.

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