The International Monetary Fund has changed its forecasts of economic expansion in China and economic contraction in Brazil.
The IMF’s latest World Economic Outlook report predicts that the Chinese economy will grow by 6.6 percent this year, the fund having estimated in April that the rate of expansion would be 6.5 percent.
The IMF still expects the rate of growth next year to be 6.2 percent.
The report remarks on “reduced concern about China’s near-term prospects following policy support to growth, and some firming of commodity prices”.
The new World Economic Outlook predicts that the Brazilian economy will shrink 3.3 percent this year, the IMF having estimated in April that the rate of contraction would be 3.8 percent.
The fund now expects the Brazilian economy to grow next year – by 0.5 percent – instead of stagnating.
The IMF forecasts that the Portuguese economy will grow by 1 percent this year and 1.1 percent next year, and that the Angolan economy will stagnate this year but grow by 1.1 percent next year.