The International Monetary Fund announced on Wednesday that is has revised its forecast for China’s GDP growth in 2011 to 9.9%, up from 9.7% it projected three months ago, Dow Jones reported. The report does not anticipate any significant slowing in China’s growth next year, despite concerns about overheating, and is more optimistic than the Asian Development bank’s 9.6% and the World Bank’s 9.5% projections. Last year China posted 11.9% GDP growth. The IMF also suggested China could handle excess demand pressure through allowing the renminbi exchange rate to appreciate. The IMF said that doing so would "facilitate adjustment" for other developing economies. The IMF raised its consumer price inflation forecast to 3.1% for this year but said inflation would likely slow to 2.4% in 2011.
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