China’s central bank has forecast the country’s economy to grow by 6.8 per cent next year, as the effect of stimulus measures and fiscal reforms offsets the mounting problems of debt and overcapacity, according to a working paper released late on Wednesday.
The optimistic forecast, comes despite wide scepticism of China’s official growth domestic product numbers as indicators such as power consumption and coal consumption imply a much weaker economic performance.
The size of China’s economy means deceleration of growth is to be expected. But economists worry that China is suffering a hangover from a massive state-backed and debt-fuelled stimulus that accelerated growth in the wake of the global financial crisis of 2008.
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