IMF revises up its projection of China’s growth
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.