International Monetary Fund Managing Director Kristalina Georgieva said that China will contribute about a third of global growth this year, which will provide more opportunities for other countries.
“We are pleased to see China’s recovery not only for China’s sake, but also because of the role it plays in the global economy,” she said at a press conference held yesterday on the International Monetary Fund’s global policy agenda.
And she added, “China will contribute about a third of global growth this year. We have calculated that the growth of 1 percent in China turns into an estimated growth of 0.3 percent in economies linked to China.”
The International Monetary Fund predicted that the Chinese economy will grow “strongly” by 5.2 percent this year, which is higher than China’s domestic forecast of 5 percent, according to Georgieva.
“Therefore, there are big challenges. There is still the issue of how to deal with real estate, what measures to take, and also how to reorient the Chinese economy towards domestic consumption more,” she added.
The Managing Director of the International Monetary Fund recalled her recent trip, describing it as “very productive”.
“It gave me the opportunity to meet with Premier Li Qiang, as well as other leaders, and discuss the prospects for the global economy and the Chinese economy, as well as China’s importance in supporting low-income countries,” she said.
“What impresses me is the premier’s very clear message about China continuing to reopen and pursuing reform. This can boost China’s growth prospects. I can see how different it is when the economy reopens,” she said.
This article was originally published by RT.