CURRENT AFFAIRS

Detailed explanation-1: -Submitting the application to join BRICS is just the first of many steps for Algeria.

Detailed explanation-2: -BRICS stands for the five major upcoming national economies: Brazil, Russia, India, China and South Africa. Originally the first four were grouped as “BRIC” before the induction of South Africa in 2010. Hence South Africa was the last country to join.

Detailed explanation-3: -Brazil, Russia, India, China and South Africa, originally an informal group of the leading emerging economies of the early 2000s, have since experienced very different growth paths. Their significance in the global economy at a time of considerable geopolitical uncertainty remains an open question.