The International Monetary Fund has predicted that China's economy will grow 5 percent this year, after a "strong" performance in the first quarter of the year, raising its previous forecast of 4.6 percent, warning that growth will be slower in the coming years.
The IMF revised its GDP target for 2024 and 2025 by an increase of 0.4 percent. He warned that growth in China will slow to 3.3 percent by 2029 due to rising aging rates and slower productivity expansion.
According to the IMF, China's economic growth will slow in 2025 to 4.5 percent. Chinese authorities expect moderate growth in the country's consumption inflation as policies boost consumer demand.
Source (CNBC Arabia Website, Edited)
