IMF re­vises up its pro­jec­tion of China’s growth

China Daily (Canada) - - NEWS CAPSULE -

The In­ter­na­tional Mon­e­tary Fund (IMF) re­vised up­ward its fore­cast for China’s eco­nomic growth on ex­pec­ta­tions of con­tin­ued pol­icy sup­port.

The IMF now ex­pects 6.5 per­cent growth for China’s econ­omy in 2017, up 0.3 per­cent­age point from its Oc­to­ber fore­cast.

“Our China growth up­grade for 2017 is a key fac­tor un­der­pin­ning the com­ing year’s ex­pected faster global re­cov­ery,” Mau­rice Ob­st­feld, IMF’s eco­nomic coun­selor and di­rec­tor of its re­search depart­ment, said in a press con­fer­ence on Mon­day.

The global growth for 2016 is es­ti­mated at 3.1 per­cent, in line with the Oc­to­ber fore­cast.

The re­port fore­cast eco­nomic ac­tiv­ity in both ad­vanced economies and emerg­ing-mar­ket and de­vel­op­ing economies to ac­cel­er­ate in 2017-2018. Global growth for the two years is pro­jected re­spec­tively at 3.4 per­cent and 3.6 per­cent, un­changed from IMF’s Oc­to­ber fore­cast.

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