BRICS is a grouping of the world economies of
Brazil,
Russia,
India,
China, and
South Africa formed by the 2010 addition of South Africa to the predecessor
BRIC.[1][2][3][4] The original acronym "BRIC", or "the BRICs", was coined in 2001 by
Goldman Sachs economist
Jim O'Neill to describe fast-growing economies that he predicted would collectively dominate the global economy by 2050.[5] The
15th BRICS summit in 2023 saw the expansion of the organization for the first time since the inclusion of
South Africa.
While
Egypt,
Ethiopia,
Iran, and the
United Arab Emirates were not admitted as members during the 15th BRICS summit, they were among 22 countries applying for membership. South African Minister of Finance
Enoch Godongwana said “There is a second batch of countries that are going to be added [to] BRICS." This means that there are plans for further BRICS expansion and the following countries are possible candidates due to their applications for membership [10]
In 2022,
Argentina formally submitted an application for BRICS membership under
Alberto Fernández's government. Argentina was invited to join at the subsequent 2023 summit, but the country declined the offer to join the bloc in the aftermath of
Javier Milei's victory in
that year's presidential election.[14]
In 2011,
Indonesia considered the possibility of joining
BRICS. In 2022 the country formally submitted an application, but Indonesian president
Joko Widodo decided to not join the group and remove the application because it was considered a rushed decision. Widodo said that in a future he would probably reapply, but Indonesia is out for now.[15]
^Information from the University of Pennsylvania's Center for African Studies estimates that about 90% of the Senegalese population understands or speaks Wolof as a first or second language.[13]
^According to
Article 4 of the 1994 Paris ProtocolArchived 1 October 2016 at the
Wayback Machine. The Protocol allows the Palestinian Authority to adopt multiple currencies. In the
West Bank, the Israeli new sheqel and Jordanian dinar are widely accepted; while in the
Gaza Strip, the Israeli new sheqel and Egyptian pound are widely accepted.
BRICS is a grouping of the world economies of
Brazil,
Russia,
India,
China, and
South Africa formed by the 2010 addition of South Africa to the predecessor
BRIC.[1][2][3][4] The original acronym "BRIC", or "the BRICs", was coined in 2001 by
Goldman Sachs economist
Jim O'Neill to describe fast-growing economies that he predicted would collectively dominate the global economy by 2050.[5] The
15th BRICS summit in 2023 saw the expansion of the organization for the first time since the inclusion of
South Africa.
While
Egypt,
Ethiopia,
Iran, and the
United Arab Emirates were not admitted as members during the 15th BRICS summit, they were among 22 countries applying for membership. South African Minister of Finance
Enoch Godongwana said “There is a second batch of countries that are going to be added [to] BRICS." This means that there are plans for further BRICS expansion and the following countries are possible candidates due to their applications for membership [10]
In 2022,
Argentina formally submitted an application for BRICS membership under
Alberto Fernández's government. Argentina was invited to join at the subsequent 2023 summit, but the country declined the offer to join the bloc in the aftermath of
Javier Milei's victory in
that year's presidential election.[14]
In 2011,
Indonesia considered the possibility of joining
BRICS. In 2022 the country formally submitted an application, but Indonesian president
Joko Widodo decided to not join the group and remove the application because it was considered a rushed decision. Widodo said that in a future he would probably reapply, but Indonesia is out for now.[15]
^Information from the University of Pennsylvania's Center for African Studies estimates that about 90% of the Senegalese population understands or speaks Wolof as a first or second language.[13]
^According to
Article 4 of the 1994 Paris ProtocolArchived 1 October 2016 at the
Wayback Machine. The Protocol allows the Palestinian Authority to adopt multiple currencies. In the
West Bank, the Israeli new sheqel and Jordanian dinar are widely accepted; while in the
Gaza Strip, the Israeli new sheqel and Egyptian pound are widely accepted.