Comment on China's economy is losing momentum, while Russia's recovery is accelerating, IMF says

China's economy is losing momentum, while Russia's recovery is accelerating, IMF says

Russian President Vladimir Putin meets with China's President Xi Jinping at the Kremlin in Moscow, Russia, on March 21, 2023.Sergei Karpukhin/Sputnik/AFP via Getty Images China's economy is losing momentum, after an initial post-COVID bounce, the IMF said. That's due to continued weakness in the real estate sector and softness in foreign demand. Meanwhile, the IMF raised its forecast on Russia's 2023 GDP growth to 1.5% from a prior view of 0.7%. China's post-COVID economic rebound is losing momentum, while Russia's prospects for growth look brighter, according to the International Monetary Fund's newest report.The lender's growth estimate for China remained unchanged at 5.2% for this year, but key headwinds are hitting top drivers of the economy."Following a reopening boost, China's recovery is losing steam," the IMF said.

 

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