Happy New Year!

Dear colleagues,

we would like to take this opportunity to thank our clients and our readers for all the support and constructive feedback provided to us during this very important starting period in our development! We wish you a very Happy New Year and may it be a peaceful and prosperous year 2024 for all of us across the globe!

In less than a year BRICS+ Analytics has become global in its outreach, with our readership and client base covering all of the main regions of the world economy. We greatly appreciate your views and assessments of the ongoing developments across global markets, the Global South and the BRICS – we certainly take them into account in shaping our projections of the key trends that we are closely tracking across the many regions of the global economy.  

As for the trends in the sphere of regionalism and BRICS expansion observed in 2023, they were very much in line with our expectations and in fact these were precisely the developments that we advocated throughout 2023 and indeed as early as in 2017-2018. These proposals on our part that came to the fore in 2023 included: BRICS+ as a format that would allow for more of the developing economies to cooperate with the BRICS original five members was first advanced in the beginning of 2017; the R5 initiative that became so widely discussed throughout the world was first developed in mid-2017; the inclusion of the African Union into the G20 circle was first proposed in 2018; the formation of a platform led by the World Bank for regional development banks was first advanced in 2018.

We believe these trends towards greater prominence of developing economies and their regional blocs will continue and should be broadly positive for a more sustainable and balanced expansion of the world economy. Our hopes are mostly associated with a positive economic policy agenda coming from Brazil, a country that will preside over the G20 in 2024 and that will chair the BRICS in 2025. We expect Brazil to play a crucial role in advancing greater cooperation among the regional projects across the Global South as well as more broadly across the world economy within the G20 platform. We also believe that Brazil will play an important role in bridging the North-South divides, including on such critical issues as climate change and sustainable development.   

With very best wishes for the year 2024,

Yaroslav Lissovolik, Founder, BRICS+ Analytics

Image by MAKY_OREL via Pixabay