IMF sees China economy to grow 1%, US GDP to shrink 8%, EU to contract 10.2% this year

The International Monetary Fund (IMF) headquarters building is seen ahead of the IMF World Bank spring meetings in Washington, April 8, 2019. -Photo/Agencies

WASHINGTON/BEIJING, June 26 (China Daily/ANN) - The global economy is projected to experience a deeper recession amid rising uncertainties, such as the recent trade tension between the United States and the European Union, while China's rebound is expected to be strong thanks to the country's supportive policies, economists said.

The International Monetary Fund forecast on Wednesday that the global economy will contract 4.9 percent this year from a year earlier, a downgrade by 1.9 percentage points from its outlook in April, citing "worse than anticipated outcomes" so far amid the novel coronavirus outbreak.