IMF Lowers Forecast For China's Economy Growth To 6.1% In 2019, 5.8% In 2020 - Report

Sumaira FH Published October 15, 2019 | 06:29 PM

The International Monetary Fund revised down its estimate for China's GDP growth in 2019 and 2020 compared to the previous forecast, according to the report issued Tuesday

WASHINGTON (UrduPoint News / Sputnik - 15th October, 2019) The International Monetary Fund revised down its estimate for China's GDP growth in 2019 and 2020 compared to the previous forecast, according to the report issued Tuesday.

"In China, the effects of escalating tariffs and weakening external demand have exacerbated the slowdown associated with needed regulatory strengthening to rein in the accumulation of debt.

With policy stimulus expected to continue supporting activity in the face of the adverse external shock, growth is forecast at 6.1 percent in 2019 and 5.8 percent in 2020 0.2 and 0.3 percentage point lower than in the April 2019 WEO projection," the report read.