IMF Increases GDP Forecast

The IMF has increased its forecast for China’s GDP growth for both 2017 and 2018 due to “growth-boosting high public investment.” The IMF expects China’s full year GDP growth to stand at 6.7% this year – 0.1% higher than its April forecast. Further, it expects 2018 GDP growth to hit 6.4%, up 0.2% from its previous forecast. China achieved faster-than-expected GDP growth of 6.9% in H1 2017, and Tsinghua University Center for China in the World Economy Director Li Daokui believes China is poised for a golden opportunity of economic recovery and expansion after experiencing years of decline in its growth rate.