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The forum called on NGOs BRICS NGOs to reduce poverty and focusing on health and environmental protection.
BRICS' Russia and Brazil will in 2017 emerge from weak growth and head strong into 2018, the report says.
South Africa's economy grew by 1% year on year in Q1 2017, but contracted by 0.7% quarter on quarter.
SPIEF is an annual Kremlin-run, high-profile gathering of business and political figures.
Experts believe the central bank will keep interest rates at 6.25 per cent despite the latest economic data.
Meanwhile, the manufacturing purchasing managers index showed expansion at 51.2.
Chinese analysts have rebuked Moody's ratings agency saying it applies a double standard between east and west.
China is now the fourth jumbo jet producer after the United States, Western Europe and Russia.
Earlier this year, Erdogan praised the two countries' friendship, saying it is "strong enough to overcome their differences".
South African companies may now be less inclined to invest in other countries in the continent.
