World Bank slashes China GDP forecast

By Agence France-Presse

Dec 21, 2022 12:12 am

BEIJING: The World Bank on Tuesday cut its 2022 growth forecast for China as the coronavirus pandemic and weaknesses in the property sector hit the world's second-largest economy.

In a statement, the Washington, D.C.-based institution downgraded its outlook to 2.7 percent from the 4.3 percent predicted in June. It also trimmed its forecast for next year from 8.1 percent to 4.3 percent.

A worker puts cotton into a stuffed toy at a factory in the city of Lianyungang, Jiangsu province, eastern China on Dec. 15, 2022. AFP PHOTO

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