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BRICS expected to grow 3.6% in 2016

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Staff writer ▼ | June 5, 2015
The BRICS countries (group including Brazil, Russia, China, India and South Africa) will post an average growth of 2.4% this year, and boost to 3.6% in 2016, pulled by China and India.
BRICS
OECD   Brazil, Russia, China, India and South Africa
The estimates was released by the Organisation for Economic Co-operation and Development (OECD) show that India will be the country to post the highest economic growth this year and in 2016, with 7.3% and 7.4%, respectively.

According to the OECD, Indians will overcome China, with the later posting growth rates of 6.8% and 6.7%, in 2015 and 2016

Brazil and Russia are facing a recession this year and are expected to post a growth rate around 1% in 2016. South Africa should see an economic expansion of 1.9% and 2.2% this year and the next.

The BRICS group accounts for around 25% of the world’s wealth and in between 2003 and 2007 it was responsible for 65% of the world’s growth.


 

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