China's economy is gearing up for a major boost! 📈 The International Monetary Fund (IMF) has just raised its growth forecast for China to a solid 5% in 2024.
Gita Gopinath, the IMF's first deputy managing director, announced the new projections following the IMF's 2024 Article IV review of the Chinese economy. She highlighted that the upgrade is driven by China's strong first-quarter GDP data and recent policy measures.
The IMF also predicts a 4.5% growth for China in 2025, both forecasts being 0.4 percentage points higher than their April estimates. Talk about leveling up! 💪
Gopinath praised China's \"important and constructive role\" in supporting debt restructuring for low-income and vulnerable countries, as well as promoting the green transition. She expressed the Fund's eagerness to continue collaborating with Chinese authorities.
With these optimistic forecasts, it seems China is set to play an even bigger role on the global stage. 🌍 Keep an eye out, because this could have ripple effects across international markets!
Reference(s):
cgtn.com
