The steps China took to successfully contain the novel coronavirus pandemic allowed Beijing to quickly restore the economy, International Monetary Fund (IMF) Economic Counselor Gita Gopinath told reporters after releasing an updated World Economic Outlook (WEO).
WASHINGTON (Pakistan Point News / Sputnik - 26th January, 2021) The steps China took to successfully contain the novel coronavirus pandemic allowed Beijing to quickly restore the economy, International Monetary Fund (IMF) Economic Counselor Gita Gopinath told reporters after releasing an updated World Economic Outlook (WEO).
"China has been very successful in containing the pandemic, and this played an important role to bring back activity much more quickly," Gopinath said on Tuesday.
Policy support was a big driver of the impressive rebound in China in 2020, according to the IMF.
Research Department Division Chief Malhar Nabar said the continuing of private consumption has been particularly important for China's economic recovery.
The IMF expects to see growth in China's private sector activity in 2021, Nabar added.
The IMF downgraded its forecast for China's economic growth by 0.1 percentage points to 8.1 percent in 2021 and by 0.2 percentage points to 5.6 percent in 2022.
China's economy in 2020 grew by 2.3 percent, according to the IMF.
