Moscow, June 5 -- Accelerated growth of technology companies across BRICS nations could boost annual gross domestic product (GDP) by as much as US$656 billion, while deeper cooperation among member countries could generate an additional economic impact exceeding US$2.7 trillion per year, according to a report jointly prepared by Russia's Ministry of Finance and the Central University.

The findings were presented by Ilya Ivaninsky, Director of the Center for Business Education and Analytics at Central University, during a round table discussion on Initial Public Offerings (IPOs) at the 29th St. Petersburg International Economic Forum (SPIEF).

Ivaninsky noted that IPOs serve as a key mechanism through which economic growth translates into...