IMF on China’s growth

22 Oct, 2019 - 00:10 0 Views
IMF on China’s growth

The Herald

China’s economic growth could moderate further in 2020 — even though the global economy is likely to pick up pace, projected the International Monetary Fund.

The fund, in its World Economic Outlook report, said the Chinese economy could grow at 5,8 percent next year — slower than the 6.1 percent forecast for 2019. China grew 6,6 percent last year, according to the IMF.

“The Chinese economy is slowing down, which has continued an earlier trend of slowing down, which started a couple of years ago,” Tao Zhang, IMF’s deputy managing director, told CNBC’s Geoff Cutmore at the World Bank-IMF Annual Meetings in Washington on Saturday.

“In recent years, what’s going on in the world — we have trade tensions, we have other geopolitical forces, we have all these uncertainties around the world . . . these add further downside pressures to the Chinese economy,” he added. — CNBC.

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