IMF sees China's growth rebounding in 2021

Gita Gopinath, chief economist at the International Monetary Fund. - Bloomberg

WASHINGTON (China Daily/ANN): China's economy will likely grow at 1.2 per cent this year and rebound strongly to 9.2 per cent in 2021, the International Monetary Fund predicted Tuesday (April 14), as it said Covid-19 would precipitate global growth into the deepest recession since 1930s but a recovery of 5.8 per cent is expected if the pandemic fades.

"Global growth is projected at –3.0 per cent in 2020, an outcome far worse than during the 2009 global financial crisis," the IMF said in World Economic Outlook released Tuesday. It added that there was "extreme uncertainty", and the situation could get much worse.