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IMF raises China growth forecast to 6.6% in 2017


04-20-2017 09:07 BJT

(Source: CGTN)

The International Monetary Fund has raised its economic growth forecast for China for this year and the next. The IMF predicts 6.6 percent in 2017 and 6.2 percent in 2018.

The revision is said to reflect stronger-than-expected momentum in 2016 and the anticipation of continued policy support. But the IMF also warns China of risks in the medium term, including a heavy reliance on credit growth.

Tuesday's forecast came a day after China announced GDP growth of 6.9 percent in the first quarter. The increase is the biggest  in 18 months. It amounts to 18 trillion yuan, or about 2.6 trillion US dollars.

Chinese authorities say the economy has maintained the momentum of steady and sound development, and that consumption has been a main driver of growth. 

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