BEIJING (Pakistan Point News / Sputnik - 24th February, 2020) The novel coronavirus outbreak will affect the Chinese economy only in short term and inflict no harsh consequences for the country's overall socio-economic situation in the longer run, Secretary General of the Chinese National Development and Reform Commission Cong Liang said on Monday.
"It should be noted that the socio-economic impact of this epidemic is short-term, and, in general, it is controllable and will not change the main vector of positive development of the national economy in the long run," Cong said at a press conference.
Cong added that the Chinese government had all the resources to minimize the epidemic's impact on the national economy and ensure stable social and economic development of the country.
International Monetary Fund (IMF) Managing Director Kristalina Georgieva said last week that the IMF saw an imminent rebound in the Chinese economy once the virus pandemic in the world's second-largest economy was brought under control.
The new coronavirus officially named COVID-19 was first detected in China in late December and has since spread to about 30 other countries, prompting the World Health Organization to declare a global health emergency. The outbreak has already left over 77,000 people infected worldwide and resulted in more than 2,600 deaths in mainland China.
