IMF cuts China 2013 growth forecast to 7.6%
BEIJING (AFP) - The International Monetary Fund (IMF) cut its 2013 growth forecast for China to 7.6 per cent on Tuesday, in the latest acknowledgement of slower expansion in the world's second-biggest economy.
In its new World Economic Outlook report the Fund also reduced its prediction for next year, expecting gross domestic product (GDP) growth to come in at 7.3 per cent.
The revised 2013 forecast is marginally higher than that of the World Bank, which said on Monday it expects China to achieve the government's official target of 7.5 per cent.
China's slowing growth "will affect many other economies, notably the commodity exporters among the emerging market and developing economies", the Washington-based IMF said.