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Home / World / China's economic growth could fall below 6% in 2020, says the IMF

China's economic growth could fall below 6% in 2020, says the IMF



China's economic growth may continue to slow in 2020 – although the global economy is likely to pick up, the International Monetary Fund predicted.

The fund said in its report on the global economic outlook that the Chinese economy could grow at about 5.8% next year – slower than the forecast of 6.1% for 2019. According to the IMF, China was down by 6 over the past year A few years ago, Tao Zhang, deputy general manager of the IMF, told CNBC's Geoff Cutmore at the World Bank's IMF Annual Meetings on Saturday in Washington.

In recent years we have trade tensions We have other geopolitical forces, we have all these uncertainties around the world … these contribute to further downward pressure on the Chinese economy, "he added.

They will do not expect one of the economies, regardless of their size, to grow continuously at 1

0% or 7% or 8%, and I think we are talking about growth with better quality and higher sustainability.

Tao Zhang

IMF Director [HoweverZhangsaidsuchgrowthratesare"reasonably"moresustainabletoexpandinthefaceofChina'srestructuringwhichmeansthatlessdebtisneededtofuelgrowthwhilegreaterconsiderationisgiventodomesticconsumption

Zhang lead to slower, but better-quality growth in China.

Shares on Friday China said its economy had grown by 6% in the third quarter, which was the slowest since the first quarter of 1992, according to Reuters.

to grow steadily by 10% or 7% or 8% … I think we're talking about growth with better quality and higher sustainability, "he said." 5.8%, or any number in this neighborhood, I think , is reasonable. "

& # 39; precarious & # 39; global outlook

China's projected slowdown next year is in contrast to the IMF's forecast for global economic recovery.

It is expected to rebound to 3.4% in 2020, after slowing from 3,6% last year to 3% this year, partly due to the uncertainties caused by the US-China trade war.

Prospects remained "precarious."

"We said the forecast was precarious because much depends on what happens with reducing political insecurity – and that's a lot of uncertainty," Zhang said

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