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IMF: China's 8% growth this year challenging but possible

(Xinhua)
Updated: 2009-02-03 12:05

WASHINGTON - China's economy might achieve the 8 percent growth rate this year but it was challenging, said International Monetary Fund (IMF)'s Managing Director Dominique Strauss-Kahn on Monday.

Related readings: Wen confident on 2009 GDP growth GDP growth slows to 6.8% in Q4 Wen says toughest year aheadUNDP sees China GDP to slow to 8.4% in 2009 UN: Global recession may drag China's GDP to 7% in 2009

"The growth in China is tremendously important for the world economy." Strauss-Kahn responded to a question raised by Xinhua. "We expect 6.7 percent growth this year (for China), 8 percent will be very challenging but is possible."

"China has showed in the past that it sometimes was able to do much more than expected," said the IMF chief, who will visit Asia late this week.

He also told reporters that China has more room for fiscal stimulus beyond the 4 trillion yuan (US$584 billion) fiscal package launched last year, adding China and some other Asian economies might "recover very fast."

"A rapid recovery is possible," Strauss-Kahn said. "Some Asian economies are very good candidates to be the leading economies when things get going."