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IMF boosts China’s growth forecast to 5% after strong Q1 performance

Posted on June 3, 2024 |

The International Monetary Fund (IMF) has revised China's growth forecast for this year to 5%, up from the previous 4.6%, citing strong first-quarter performance and new policy measures.

The IMF predicts that China’s economy will grow by 4.5% in 2025, an improvement from the earlier estimate of 4.1%.

By 2029, the IMF expects China’s growth to slow to 3.3% due to an aging population and reduced productivity growth, down from a prior forecast of 3.5%.

China's economy grew by 5.3% in the first quarter, surpassing expectations, driven by robust exports.

Recently, Chinese authorities introduced significant measures to support the real estate sector, including removing the floor on mortgage rates.

These measures are designed to allow more price flexibility and boost housing demand while keeping an eye on potential macro-financial risks.

The IMF believes that these policy changes can help stabilize the housing market and restore balance.

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