International Monetary Fund expects China's economy to grow by 5 percent

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International Monetary Fund expects China's economy to grow by 5 percent

[29/05/2024 02:39]

BEIJING - SABA
The International Monetary Fund has forecast China's economy to grow at a rate of 5 percent of GDP this year, up from its previous forecast of 4.6 percent, following the strong performance of the world's second-largest economy in the first quarter of this year.

In a statement on Wednesday, the Fund raised its forecast for China's economic growth rate next year from 0.4 percentage points to 4.5 percent, compared to 4.1 percent of GDP.

The Chinese National Bureau of Statistics announced last month that China's economy grew by 5.3 percent in the first quarter of the this year, while analysts had expected it to grow by 4.8 percent, after growing by 5.2 percent in the last quarter of last year.