The International Monetary Fund on Tuesday upgraded its 2023 gross domestic product growth forecast for China to 5.4% from 5%, citing a 'strong' post-COVID-19 recovery, but said the fund still expected the Chinese economy to slow next year.
People wait to board trains at the Shanghai Hongqiao railway station ahead of the National Day holiday, in Shanghai, China September 28, 2023. REUTERS/Aly Song/File PhotoBEIJING, Nov 7 - The International Monetary Fund on Tuesday upgraded its 2023 gross domestic product growth forecast for China to 5.4% from 5%, citing a "strong" post-COVID-19 recovery, but said the fund still expected the Chinese economy to slow next year.
"These projections reflect upward revisions of 0.4 percentage points in both 2023 and 2024 relative to October WEO projections due to a stronger-than-expected third-quarter outturn and recent policy announcements," said IMF's First Deputy Managing Director Gita Gopinath in the statement.
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