He noted that the BRICS share of the global economy, based on purchasing power parity, has reached around 40%, compared to less than 29% for the G7. President Putin emphasized that BRICS has become one of the main drivers of global economic growth amid the rising role of emerging and developing economies.

Intra-BRICS trade exceeds $1 trillion annually

Putin said intra-BRICS trade volume now exceeds one trillion dollars annually, adding that these emerging growth centres are increasingly seeking to define their own development paths and set economic priorities based on national interests.

Russia targets stable growth and low unemployment

Domestically, Putin said Russia aims to return to sustainable economic growth next year while bringing inflation down to around 5.2% by year-end. He added that Russia’s unemployment rate stands at 2.2%, one of the lowest among major industrialised economies.

Technological development and global participation in SPIEF

Putin stressed that technological progress is the key driver of global transformation, noting Russia’s advances in digital platforms and e-commerce, which is growing at around 30% annually. He also highlighted participation from more than 130 countries at the St. Petersburg International Economic Forum, reaffirming Russia’s openness to economic and technological cooperation based on mutual respect and shared interests.