I.M.F. Is Upbeat on China's Growth but Questions Its Industrial Policy
IMF Boosts China Growth Forecast: Is It Sustainable?
The IMF has raised its growth forecasts for China, now expecting expansions of 5% in 2023 and 4.5% in 2025, which are increases of 0.4 percentage points from earlier predictions. Despite concerns over a weakening housing market and slow consumer spending, China's economy grew robustly in early 2023, driven by surging exports and factory investments. However, the IMF raised questions about the extensive government support to export-focused industries.
What are the new growth forecasts for China's economy made by the International Monetary Fund for this year and 2025?
The International Monetary Fund (IMF) has revised its growth forecasts for China's economy, now expecting a 5 percent growth rate for the current year and a 4.5 percent growth rate for 2025. These updated figures represent an increase of 0.4 percentage points for each year compared to the IMF's earlier predictions made six weeks prior.
How do these updated forecasts compare to the International Monetary Fund's predictions made six weeks ago?
The International Monetary Fund (IMF) has recently revised its economic growth forecasts for China upwards by 0.4 percentage points for both this year and 2025, compared to predictions made just six weeks prior. Initially, the IMF estimated lower growth rates, but the recent adjustments now forecast a 5 percent growth for this year and a 4.5 percent growth for 2025. This revision reflects a more optimistic outlook than previously held, largely influenced by China's stronger-than-expected economic performance in the early part of the year6.