China’s economic outlook slightly adjusted by IMF

China’s economic outlook slightly adjusted by IMF

Right after the routine consultation with the Chinese government, the economists of IMF the International Monetary Fund slightly down rated the economic outlook for China in the ongoing year, mostly because of the weaker worldwide economic development

The IMF statement is as follows: “Despite weak and uncertain global conditions, the Chinese economy is expected to grow at around 7¾ percent this year. The pace of the economy should pick up moderately in the second half of the year, as the recent credit expansion gains traction and in line with a projected mild pick-up in the global economy. Inflation is forecast to end the year at around 3 percent, and the external current account surplus is projected to remain broadly unchanged at around 2½ percent of GDP”. This means that the IMF is still slightly more optimistic than the Chinese government who set the mark of economic growth at 7.5 % for this year.

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