Starting Paragraph: Russian Finance Minister, Anton Siluanov, spoke out about the growing influence of the BRICS nations, emphasizing that these 5 major economies which include Brazil, Russia, India, China, and South Africa, are expected to boost their economy by 4.4%. He mentioned that the growth figures for these nations are higher than in the G7 countries which is expecting only a 1.7% increase; thus showing that BRICS states are economically outperforming their western counterparts. One reason for this growth, Silvanov pointed out, is that as of 2024,BRICS countries now represent just over a third of the global total of economic output (Gross domestic product) or 36.7 %.
Ending paragraph: Additionally, he mentioned the prospect for further growth with potential entry of more countries such as Egypt, Saudi Arabia, Iran and Argentina suggesting a larger representation of emerging economies. Therefore, the BRICS status, with its promising development prospects, has the potential to draw even more nations towards partnership with the group in search of increased economic growth and prosperous global ties.
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