IMF confident about China’s GDP growth expectations

Lima, Oct 7 (IANS) The International Monetary Fund (IMF) is confident about its GDP growth expectations for China in the range of 6.5 percent to 7.5 percent in 2015, according to IMF’s latest World Economic Outlook.

China having unrolled fiscal measures and its infrastructure investments are the main reasons for the economic growth this year, Xinhua quoted the report as saying on Tuesday.

China’s economic transformation, the fall in commodity prices and the approaching normalisation of US monetary policy are the three main forces currently impacting the global economy, leading global growth to hit only 3.1 percent in 2015, said Maurice Obstfeld, the IMF economic counsellor.

The IMF’s support for Beijing’s decision is seen as crucial, since it could impact the international financial organisation’s decision to include the Chinese currency, the yuan, in its basket of special drawing rights currencies in November.

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