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Saturday, December 9, 2023

IMF expects China to meet growth target of around 5 pc in 2023


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Washington: The International Monetary Fund (IMF) stated on Thursday that it maintains its expectation that China will achieve its growth target of approximately 5 per cent in 2023.

“On China, what we have seen recently is a slowdown in the economy since the first quarter. However, the very recent data has been a bit more mixed, with some signs of stabilisation,” IMF spokesperson Julie Kozack said at a press briefing in response to a question from Xinhua.

Detailed projections will be provided in the World Economic Outlook, set for release during the 2023 World Bank-IMF Annual Meetings in Marrakech, Morocco, from October 9 to 15.

The World Bank Group and the IMF, together with the Moroccan government, announced earlier this month that they have agreed to proceed with holding the 2023 Annual Meetings in Morocco after thoroughly assessing Marrakech’s capacity to host the meetings following a devastating earthquake in the North African country.

The IMF Executive Board approved Thursday an 18-month loan for Morocco under the Resilience and Sustainability Facility, equivalent to about 1.32 billion U.S. dollars, to help Morocco address climate vulnerabilities, strengthen preparedness for natural catastrophes and stimulate financing for sustainable development.


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