Indonesia will formally join BRICS as a full member, Brazil's government said on Monday, further expanding the group of major emerging economies that also includes Russia, India, China and South Africa.

Home to over 284 million people, the Asian nation boasts the world's fourth-largest population and ranks as the tenth-largest economy by purchasing power parity.

Indonesia, Southeast Asia’s largest economy and the world’s fourth-most populous nation, has become the newest member of Brics, the Brazilian foreign ministry announced on Monday. Brazil serves this year as president of the association comprising major emerging national economies,