IMF further lowers global growth forecast

The International Monetary Fund has further reduced its global growth outlook including the projection for China. It cited the risks of trade and technology tensions as well as the increasing likelihood of a no-deal Brexit, which it said could dent a global economic rebound.

Analysts said China will continue to seek measures including accelerating financial sector liberalization and boosting domestic consumption to shore up growth and shield the economy from external uncertainties like the ongoing trade friction with the United States.

The global economy is forecast to expand 3.2 percent this year and 3.5 percent next year, both down 0.1 percentage point from April projections, the IMF said on Tuesday in its quarterly report on the world economic outlook. The fund also cut its China forecast by the same amount, predicting that the Chinese economy will grow by 6.2 percent this year and 6 percent next year.