(MENAFN- Qatar News Agency) Ijing june 07 (qna) - the world bank projected yesterday that china's economy will grow 7.6% this year beating the government’s target of 7.5%.
in the next three to five years china’s growth will continue to ease because of a rebalancing in the economy according to the world bank's latest report on china's economy. the bank estimated 7.5% growth for next year.
the bank’s upbeat view contrasted with some other forecasts which range from 7.1% to 7.3%.
"the prospect of growth falling below the government target will likely trigger accommodative fiscal and monetary policies" the bank said. "these measures should help the authorities reach the indicative growth target in 2014 but will likely add to current imbalances and vulnerabilities." on thursday the international monetary fund said it predicted china to grow by 7.5% this year and then slow to around 7 % in 2015.
according to the report in the first quarter china’s economy grew 7.4% from a year earlier the slowest in 18 months while it rose 7.7% in 2013. april's economic data the most recent indicator also pointed toward a stagnant recovery. (qna)
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