China can play a very important role in boosting global growth in 2023

China can play an important role in boosting global growth in 2023, Hamid Rashid, a leading UN economist, said in an interview after the world organisation published its annual World Economic Situation and Prospects (WESP) report for 2023 on Wednesday.

The year 2022 was difficult but in 2023 China "can play a very important role in stimulating global growth," said Rashid, head of the Global Economic Monitoring Branch of the Economic Analysis and Policy Division of the UN Department of Economic and Social Affairs, commenting on China's economic prospects.

"I think all the elements necessary for economic recovery are present. We are very optimistic about China's economic recovery," he said as the lead author of the UN annual report.

He was confident that China's economy would have a "confident recovery " in 2023 because its policies are "on the right track", fiscal and monetary policies are "in the right direction".

There was no tightening of monetary policy in China, which is very encouraging as it would likely stifle economic growth, said economist.

Rashid said that China's economy has favourable conditions for growth. Its exceptional advantage is the relatively "low inflation rate", which has remained low even when other countries have suffered steep price increases, as reported by Xinhua News Agency, a partner of TV BRICS.

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