SHANGHAI :
IMF Bolsters China GDP Growth Forecast to 6.3% in 2019
Yicai Global
DATE:  Apr 10 2019
/ SOURCE:  YICAI

(Yicai Global) April 10 --  The International Monetary Fund has lifted its economic growth forecast  for China to 6.3 percent from 6.2 percent. 

The IMF revised China's  gross domestic product growth estimate in its latest World Economic  Outlook report. The document projected a 6.1 percent growth rate for  China in 2020, down 0.1 percentage point from the previous estimation.

The upward revision shows  the effects of the recent progress in the US-China trade talks, China's  stronger-than-expected fiscal and monetary stimulus, and a slowing  global economy, according to Changyong Rhee, director of the IMF's Asia  and Pacific department. 

The IMF lowered its global  economic growth forecast for 2019 to 3.3 percent, down 0.2 percentage  point from its previous estimate in January, due to uncertainties in the  world economy, as well as trade tensions. GDP growth around the world  will contract to 3.6 percent in 2020, according to the multilateral  organization.  

The projected slowdown in  2019 reflects negative revisions for several major economies including  the euro area, Latin America, the US, Canada, the UK and Australia,  chief economist Gita Gopinath said in the report. 

Editor: Emmi Laine

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Keywords:   Economy Growth Forecast,IMF,Global Slowdown,GDP