IMF upgrades China's 2023, 2024 GDP growth forecasts
China's economy is set to grow 5.4% this year, having made a "strong" post-COVID recovery, the International Monetary Fund said on Tuesday, making an upward revision to its earlier forecast of 5% growth, while expecting slower growth next year, Reuters reports.
IMF upgrades China's 2023, 2024 GDP growth forecasts
The Economics of Geography

IMF upgrades China's 2023, 2024 GDP growth forecasts

Photo: iStock
Eurasia 09/11/2023 18:01

China's economy is set to grow 5.4% this year, having made a "strong" post-COVID recovery, the International Monetary Fund said on Tuesday, making an upward revision to its earlier forecast of 5% growth, while expecting slower growth next year, Reuters reports.

The upward revision followed a decision by China to approve a 1 trillion yuan ($137 billion) sovereign bond issue and allow local governments to frontload part of their 2024 bond quotas, in a move to support the economy, the news agency added.

"We have revised up growth by 0.4 percentage points in both years relative to our October WEO projections, reflecting stronger than expected growth in the third quarter and the new policy support that was recently announced," IMF's First Deputy Managing Director Gita Gopinath said in Beijing.
#Chinese economy
See Also
Four major global initiatives: China’s wisdom in solving global challenges
Four major global initiatives: China’s wisdom in solving global challenges

Faced with these cross-border challenges, no country can remain immune. It is timely and necessary for all countries to join together to develop systematic solutions to effectively address these global problems. China has put forward several initiatives on development, security, civilization, and governance, which deserve our attention.
China’s policies and actions to reform and improve the global governance system
China’s policies and actions to reform and improve the global governance system

Currently, profound changes unseen in a century are accelerating, and the world has entered a new period of turbulence and transformation.

We use cookies on our website. If you consent to their use, we use them to measure and analyze the use of the website.
Information and Settings

Accept