• The bloc of developing countries will be a larger driver of development than the Western Group of Seven major economies…Members of the BRICS group – Brazil, Russia, India, China, and South Africa – are expected to outpace the US-led G7 in terms of their contribution to the world’s economic growth, from this year, Bloomberg reported on Monday.According to the outlet’s calculations – based on the latest IMF data – the BRICS countries will contribute 32.1% of the world’s growth, compared to the G7’s 29.9%.The Group of Seven nations (G7) – consisting of the US, UK, Canada, France, Germany, Italy, and Japan – has long been considered the most advanced economic bloc of countries on the planet. Russia was a member, until 2014, when it was expelled due to the fallout from the Western-backed Maidan coup in Ukraine.The report indicated that in 2020, the contributions from BRICS countries and the G7 to global economic growth were equal. Since then the performance of the Western-led bloc has been declining. By 2028, the G7’s contribution to the world economy is predicted to decrease to 27.8%, while the BRICS will account for 35%.