Volodin announced the creation of a "new G8" due to US sanctions

The United States , imposing sanctions in connection with the Russian military operation in Ukraine, created the conditions for the formation of a "new G8" together with RUSSIA, State Duma Speaker Vyacheslav Volodin said on TELEGRAM.

In addition to Russia, Volodin added CHINA , India, Indonesia, Brazil, Mexico, Iran and Turkey to the "new big eight" . Referring to data from the International Monetary Fund, he said that these countries in terms of GDP at PPP (purchasing power parity) are ahead of the "old group" by 24.4%. In first place was China with $27 billion, India was in second with $10 billion, and Russia was in third with $4.5 billion.

According to the speaker, the economies of the United States, Japan, Germany, Britain, France, Italy, CANADA (the so-called old group of the G8. -) continue to "crack under the weight of the sanctions imposed against Russia."

"Sinking" in economic terms, the United States continues to create tension in the world. They do everything to solve their problems at the expense of others. And this will inevitably lead to the loss of hegemony in the world,” Volodin concluded.

By the end of 2021, even before the imposition of Western sanctions, Russia was in sixth place in terms of GDP at purchasing power parity, behind China, the United States, India, Japan and Germany. In 2022, based on IMF forecasts, taking into account the decline in Russia's real GDP by 10.6% in total for 2022-2023, it follows that Russia may be in seventh place, and Indonesia will be in sixth.

According to the IMF forecast, by the end of 2022, the share of Russian GDP in global GDP (indicators calculated at purchasing power parity) will drop to 2.72% compared to 3.07% in 2021, and in 2024 to 2.52 %.

In April of this year, the HEAD of the Accounts Chamber, Alexei Kudrin, indicated that Russia would live "in a very difficult situation" for a year and a half to two years, the decline in GDP by the end of this year would be more than 10%, and inflation would be in the range from 17 to 20%.

According to preliminary data from Rosstat, in the first quarter of 2022, the index of the physical volume of GDP compared to the corresponding period in 2021 amounted to 103.5%.