Hassan Magulumali
The International Monetary Fund (IMF) has released its global growth forecasts for 2024, with BRICS economies outpacing many developed nations.
India leads the way with a projected growth rate of 7.0%, positioning itself as one of the fastest-growing major economies. China follows at 4.8%, reflecting strong, though slowing, growth.
Russia is forecast to grow at 3.6%, while Brazil is expected to achieve a 3.0% increase, signaling robust economic performance within the BRICS alliance.
In contrast, G7 economies are projected to grow at slower rates. The United States leads the G7 with a 2.8% growth forecast, followed by Canada at 1.3%.
Read More: G7 vs BRICS: A Comparative Analysis of GDP in 2024
Major European economies, including the UK, France, and Italy, are expected to grow at 1.1%, 1.1%, and 0.7%, respectively. Japan is forecasted to grow at 0.3%, while Germany’s economy is expected to stagnate with zero growth.
Saudi Arabia, invited to join BRICS, is projected to grow at 1.5%, outpacing several G7 nations. South Africa, another BRICS member, is forecast to grow at 1.1%.
The IMF’s forecast highlights a shifting balance in global economic growth, with BRICS nations, particularly India and China, set to lead the way while G7 economies face slower expansion.
Now world change location from G7 to BRICS
The IMF’s growth forecasts highlight the development pace of BRICS nations.
lead to growing up
Keep functioning ,splendid job!