IMF upgrades China's 2023, 2024 GDP growth forecasts

<p>The International Monetary Fund on Tuesday upgraded its 2023 gross domestic product growth forecast for China to 5.4% from 5%, citing a "strong" post-COVID-19 recovery, but said the fund still expected the Chinese economy to slow next year.</p><p><a href="https://piqsuite.com/reuters/imf-upgrades-chinas-2023-2024-gdp-growth-forecasts" target="_blank" rel="nofollow">FULL STORY</a></p><p>The upward revision followed a decision by China to approve a 1 trillion yuan ($137 billion) sovereign bond issue and allow local governments to frontload part of their 2024 bond quotas, in a move to support the economy.</p><p>Over the medium term, growth is projected to gradually slow to about 3.5% by 2028 amid headwinds from weak productivity and population aging</p>

This article was written by Ryan Paisey at www.forexlive.com.