IMF raises China’s economic growth rate to 5.4 percent

BEIJING, The International Monetary Fund (IMF) raised its forecast for China's economic growth in 2023 to 5.4 percent, citing rising domestic consumption. and policy measures previously announced by China

The IMF said it expected that The gross domestic product, or GDP, of China, the world's second-largest economy after the United States, will expand 5.4 percent this year, from the previous expectation that it would expand 5.0 percent, while at the same time increasing China's economic growth outlook is forecast for 2024 to 4.6 percent from 4.2 percent.

Geeta Gopinath, First Deputy Managing Director of the IMF, said during a press conference in Beijing today that This upward revision of China's economic expansion forecast. This reflects a strong recovery in domestic demand. Especially domestic consumption After the country's reopening, however, she warned that the IMF expects The weak condition of the real estate sector continues. and demand from outside the country remains sluggish.

China's economy grew only 3.0 percent last year. Lower than the expected target of 5.5 percent due to the impact of measures to control the spread of COVID-19. which is strict.

Source: Thai News Agency

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