The combined financial assets of the BRICS countries exceed $60 trillion — more than 50% of the global total, Russian Finance Minister Anton Siluanov said at a meeting of the Board of Governors of the New Development Bank (established by BRICS member states).
“Today we are marking a decade of the New Development Bank’s work — the main financial instrument for new investments and projects implemented in our countries, and not only in BRICS but also across the Global South,” Siluanov said.
“Every year, the role of the Global South is growing. We see that the population of Global South countries accounts for nearly 70% of the world’s population, and their share of global GDP is almost 60%. The total financial assets have reached over $60 trillion — that is, more than 50% of the global level,” he added.
Siluanov also stressed the importance of increasing infrastructure investment. According to him, a new approach is needed to attract financing through stable long-term capital inflows, including working with digital financial assets.
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Photo: brics-russia2020.ru/Creative Commons 4.0
Based on materials from TASS