IMF raises China growth forecast for its decisive reforms: Lagarde

(From Xinhua)

The International Monetary Fund (IMF) increased its growth forecast for China in 2016 due to the country’s “determined and decisive” implementation of reforms and the “steady” support for the economy, said managing director Christine Lagarde here on Friday.

International Monetary Fund (IMF) Managing Director Christine Lagarde attends the 60th anniversary of the Paris Club at the French Ministry of Finance in Paris, France, July 1, 2016. REUTERS/Jacky Naegelen

International Monetary Fund (IMF) Managing Director Christine Lagarde

Lagarde made her remarks when she met the press together with Chinese Premier Li Keqiang and other five chiefs of international financial institutions after a round-table meeting at Diaoyutai State Guesthouse in Beijing.

She said the IMF had increased the growth forecast for China in 2016 by 0.1 percentage point to 6.6 percent for two reasons; “First of all, we have witnessed the determined and decisive implementation of reforms; and second, there was also support given to the economy in order to encourage growth to go forward.”

“On the latter point, it did not take the form of vast fiscal stimulus but simply some solid and steady support in order to make sure that growth was indeed sustainable,” she added. Read more



Categories: Asia Unhedged, China

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