The coronavirus outbreak could trim China’s full-year economic growth rate by as much as 1 percentage point in 2020, a senior member of a Chinese government think tank said in comments published on Tuesday, reported Reuters.
Zeng Gang, vice chair of the National Institute for Finance and Development, compared the current crisis with the SARS epidemic of 2003, when China’s growth declined by about 2 percentage points in a single quarter.
“The impact of this epidemic on the economy in the first quarter is expected to be comparable,” Zeng said in a commentary published in the 21st Century Business Herald newspaper.
“At present, according to different scenario assumptions, researchers expect the negative impact of the epidemic on full-year GDP growth to be in the range of 0.2% to 1%.”
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