IMF lowers China's GDP growth forecast for 2019-2020


The International Monetary Fund, following the results of the mission in the PRC, announced a reduction in the forecast for the growth of the Chinese economy in the current year to 6.2% from the previously expected increase of 6.3%. The following year, the IMF's estimate of economic growth worsened to 6% from 6.1%. The fund's experts pointed out to the Chinese authorities the need, in conjunction with their trading partners, to step up work to eliminate the shortcomings in the trading system. According to their estimates, the escalation of the trade conflict with the United States has a negative impact on the Chinese economy. At the same time, they do not see the need for further measures to stimulate economic growth on the part of the Chinese authorities, unless the duties are raised again and a sharp slowdown in growth does not occur. According to PRC President, Xi Jinping, the growth of employment and income of the Chinese, with stable inflation, makes the GDP dynamics of the PRC acceptable.

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