May 29, 2024 02:15 GMT
MNI BRIEF: IMF China 2024 GDP Growth Revised Up
MNI (BEIJING)
MNI (Beijing)
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The International Monetary Fund has increased its China GDP forecast to 5% this year and 4.5% in 2025, up 0.4 pp for both years, an IMF report said Wednesday.
Strong Q1 GDP data and recent policy measures drove the revision, while core inflation will average 1% in 2024, the report said.
Authorities' recent property support measures were welcome, but a more comprehensive package would ensure less costly transition while mitigating downside risks, the report noted. However downside risks remained, such as fragmentation pressures.
Washington's recent additional tariffs on Chinese products will do little dampen appetite for exports, an expert recently told MNI. (See MNI INTERVIEW: U.S. Will Find Replacing China EV Parts Difficult)
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