Russian President Vladimir Putin said that developing countries and the BRICS group will generate most of the world's economic growth in coming years [1, 2].

The statement underscores a strategic push by Russia to pivot its economic dependencies away from Western markets and toward the Global South. By emphasizing the rise of the BRICS bloc, Putin is framing the current geopolitical shift as an inevitable transition toward a multipolar financial system.

Speaking at the St. Petersburg International Economic Forum (SPIEF), Putin said the role of developing nations in the global economy is significant [1, 2, 3]. He said that the growth of the BRICS group is fueled by its size and a faster rate of expansion compared to developed Western nations [2].

"The BRICS group will generate most of the global economic growth in the coming years thanks to its size and relatively fast growth compared with that of developed Western nations," Putin said [2].

Putin also addressed the changing dynamics of global production. He said that the share of output produced by Western nations continues to decline [3]. This shift is presented as a byproduct of both natural economic evolution and the impact of geopolitical tensions.

During the forum, Putin used the platform to criticize Western sanctions. He said these measures have eroded trust in the dollar, the euro, and Western financial institutions [1, 2, 3]. According to the Russian leader, the reliance on these currencies has become a liability for nations seeking economic stability.

"The share of output produced by Western nations continues to decline," Putin said [3].

The St. Petersburg International Economic Forum serves as a primary venue for Russia to maintain ties with international investors and state leaders despite ongoing diplomatic isolation from many Western capitals [1, 3].

“"The BRICS group will generate most of the global economic growth in the coming years"”

Putin's rhetoric reflects a broader effort to legitimize the BRICS bloc as a viable alternative to the G7-led financial order. By linking the decline of Western economic output to the perceived instability of the dollar and euro, Russia seeks to encourage other developing nations to adopt non-Western payment systems and trade frameworks to bypass sanctions.