The IMF latest forecast of 6.7% was an increase from its already-raised April forecast of 6.6%. Photo: ReutersBeijing: The International Monetary Fund (IMF) on Wednesday raised its forecast for China’s economic growth this year to 6.7%, citing “policy support, especially expansionary credit and public investment”. China’s economy grew a faster-than-expected 6.9% in the first quarter, well above the government’s target of around 6.5% for the full year. The IMF said it now expects China’s growth to average 6.4% from 2018-2020. Despite the improved growth forecast, the IMF recommended China speed up reforms to transition its economy to more sustainable growth and adopt less accommodative monetary policy.

Source: Mint June 14, 2017 07:30 UTC