IMF expects China to meet 2023 growth target

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The International Monetary Fund (IMF) said it maintains its expectation that China will achieve its economic growth target of approximately 5 percent in 2023.

“On China, what we have seen recently is a slowdown in the economy since the first quarter. However, the very recent data has been a bit more mixed, with some signs of stabilisation,” IMF spokeswoman Julie Kozack said at a press briefing in Washington DC.

The fund sees China’s GDP growth slowing to about 3.5 percent over the medium term. “But we also think that higher growth over the medium term is within reach for China. China should seize the opportunity to re-balance its economy through short-term macroeconomic policy support and medium term reforms,” she said.

Detailed projections are due when the IMF publishes its World Economic Outlook during the IMF-World Bank annual meetings in Marrakech, Morocco on October 10. (Xinhua/Reuters)



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