18 June 2009 11:44 [Source: ICIS news]
SINGAPORE (ICIS news)--China's heavy fiscal spending this year is forecast to lead to an economic growth rate of 7.2%, up from an earlier forecast of 6.5%, the World Bank said in a report released on Thursday.
There would be little improvement next year when the economy is projected to post 7.7% growth, the World Bank said in its quarterly report on ?xml:namespace>
The government has started to implement a yuan (CNY) 4,000bn ($585bn) fiscal stimulus package this year to ensure funding of infrastructure projects to boost
“Government-influenced investment will strongly support growth in 2009. However, there are limits to how much and how long
Based on the World Bank’s assessment, the economy is unlikely to rebound to high single-digit growth rates before the global economy recovers.
($1 = CNY6.84)
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