China remains an important driving force of global development IMF – Dainik Savera Times

The International Monetary Fund (IMF) recently released an update to the World Economic Outlook report, raising its global economic growth forecast for 2024 by 0.2 percentage points to 3.1 percent, based on last October’s report. The main reason for this is that it is optimistic about the growth pace of China, America, many emerging markets and developing economies.

The IMF said in its update that the increase in China’s growth forecast reflects the continuation of China’s economy’s higher-than-expected growth pace last year and the stimulating role of the Chinese government’s introduction of relevant policies.

Many media believe that recently released data and economic performance show that China is still an important driving force for global economic growth. Japan’s “Nikkei Asia” website said in a recent article that in 2024, emerging markets and developing economies in Asia will remain the driving force for global economic growth. The growth rate in the region is expected to reach 5.2 percent, ahead of other regions due to growth in economies such as China and India.

At the same time, an article on the Euronews TV website also states that the overall economic growth of emerging markets and developing economies is expected to decline in the next two years, but China’s performance is better than expected.

It is noteworthy that recently released data by the Chinese National Bureau of Statistics shows that China’s GDP will increase by 5.2 percent in the year 2023 compared to the year 2022. The International Financial Forum report shows that China’s economy will contribute 32 percent of global economic growth in 2023, making it the largest engine of world economic growth.

(Credits- China Media Group, Beijing)