China’s economic growth is projected to “remain resilient” at 5% this year, driven by its strong first-quarter data and recent policy measures, the International Monetary Fund (IMF) said after its team concluded a visit to the country.
That forecast reflects an upward revision of 0.4%, compared with the IMF’s World Economic Outlook 2024 projections released in April.
IMF noted that China’s inflation is expected to rise but stay low as output remains below potential, with core inflation increasing only gradually to average 1% in 2024.
It said that over the medium term, growth is expected to decelerate to 3.3% by 2029 due to aging and slower productivity growth.
Source: Qatar News Agency
