BRICS expected to grow 3.6% in 2016Staff 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.
OECD Brazil, Russia, China, India and South Africa
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. ■