[04/11/09 - AFP]
The World Bank has revised upwards its growth forecast Wednesday for the 2009 China was 8.4%, against 7.2% estimated in June, while urging Beijing to continue on the road to rebalancing economy.
In its quarterly outlook, the organization said China was thus in the nails to reach its goal of 8% rise in its gross domestic product, the level considered necessary for maintaining employment levels in the Asian giant.
Despite the impact of the fall in exports "China's economy continues to grow robustly due to expansionary fiscal and monetary policies (Beijing). (...) investment in infrastructure was a key element but consumption has also been well maintained. More recently there has also been a resurgence of real estate, "noted the WB in its report.
However, the World Bank warned that a" successful rebalancing "of the economy is necessary for a sustainable recovery in the medium term.
"rebalancing and obtaining a higher growth of the national economy require more emphasis on consumption and services and less investment and industry, "said she.
Chinese growth rebounded to 8.9% in the third quarter, following 7.9% in the second and 6.1 % in the first - its lowest rate in over a decade.
Last year, China experienced an increase of 9% of its GDP.
0 comments:
Post a Comment