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Maurice Obstfeld (C), chief economist of the International Monetary Fund (IMF) addresses to the media in Kuala Lumpur, Malaysia Miguel Layun Mexicana Camiseta , July 24, 2017. The International Monetary Fund (IMF) on Monday revised up China's growth forecast for 2017 and 2018 to 6.7 percent and 6.4 percent respectively. (XinhuaChong Voon Chung)
KUALA LUMPUR, July 24 (Xinhua) -- China's growth will continue to be a key driver for a firming recovery of the world economy, the chief economist of the International Monetary Fund (IMF) said Monday.
Maurice Obstfeld Jorge Torres Nilo Mexicana Camiseta , the IMF's economic counsellor and director of research, made the remarks in an exclusive interview with Xinhua as the IMF revised up China's growth forecast for 2017 and 2018 to 6.7 percent and 6.4 percent respectively.
The updated World Economic Outlook report published here Monday, which came days after China posted a stronger-than-expected second quarterly performance, was a reflection of a solid first quarter underpinned by previous policy easing and supply-side reforms Diego Reyes Mexicana Camiseta , including efforts to reduce excess capacity in the industrial sector, according to the IMF.
"We have seen very strong growth and especially beyond our update, second quarter number of 6.9 percent is also above expectation. So clearly growth is proceeding at pace," Obstfeld said.
"Strong Chinese growth drives growth particularly in Asian region but also throughout the world Rafael Marquez Mexicana Camiseta ," Obstfeld added, noting that China is a big contributor to the overall growth and has a very large spillover effect to the world economy.
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