The International Monetary Fund (IMF) has upbeat news for the Chinese mainland economy, raising its growth forecasts for the next two years.
According to Gita Gopinath, the IMF's first deputy managing director, the Chinese mainland's economy is projected to grow by 5 percent in 2024 and 4.5 percent in 2025.
These projections are 0.4 percentage points higher than the IMF's previous forecasts made in April, reflecting stronger than expected performance in the first quarter of GDP and the impact of recent policy measures.
\"The upward revision is driven by robust Q1 GDP data and the effective implementation of recent policy measures,\" said Gopinath in a statement following the annual Article IV review of the Chinese mainland economy.
The IMF team conducted the Article IV Consultation study during their visit to the Chinese mainland from May 16 to 28, assessing the nation's economic health and future prospects.
Reference(s):
IMF team raises China's economic growth forecasts for 2024, 2025
cgtn.com
