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IMF Cuts China Growth Forecast to 4.4%
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The International Monetary Fund further slashed its growth forecast for China this year to 4.4%, well below what Beijing aims to achieve, as widespread Covid-19 lockdowns and Russia’s invasion of Ukraine exacerbate pressure on the world’s second-largest economy.
The IMF’s second downgrade of its China forecast in three months underscores the rising challenges for China’s leadership to meet its 2022 growth target of around 5.5%—a pace seen by senior leaders as needed to create as many as 13 million urban jobs in a year when President Xi Jinping is seeking a third term in office.
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