UN predicts Chinese economy to drive regional growth in 2023

The United Nations released the report 'World Economic Situation and Prospects for 2023', predicting that global economic growth will fall from about 3 percent in 2022 to 1.9 percent in 2023. However, China's economy will drive regional economic growth, according to the report.

Also according to the document, China's economic growth will accelerate in 2023. The demand of domestic consumers in China will also increase in the next period as the Chinese government optimises its policies against the epidemic and adopts favourable economic measures, thus the country's economic growth is expected to reach 4.8 percent this year.

Hamid Rashid, the head of Global Economic Monitoring at United Nations Department of Economic and Social Affairs, said that unlike other developing countries, China has maintained a strong fiscal and monetary policy.

The report noted that China's economic growth has a very important impact on many East Asian countries, and the recovery is expected to support growth across the region, as reported by Brasil247, a partner of TV BRICS.

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