BEIJING: The International Monetary Fund (IMF) predicted China’s economy to grow at 8.4% this year, which is 0.3 percentage point stronger than in its January forecast, while global growth is expected to reach 6% in 2021, a higher-than-expected recovery that could face “daunting challenges” ahead.
More than a year into the Covid-19 pandemic, high uncertainty is still hovering over the path of the health and economic crisis, with recoveries diverging “dangerously” within and across countries, but a way out is “increasingly visible” thanks to vaccines and policy support, the IMF said in its latest World Economic Outlook (WEO).
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