China invested about 5% of GDP in economic support measures

China invested about 5% of its gross domestic product (GDP) in emergency economic support measures in response to the global crisis triggered by the coronavirus pandemic. This was stated by Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), on Monday, April 27, during a seminar in the Atlantic Council of Washington.

According to her, Beijing acts “quite significantly”, investing in various support measures. According to the information available to the fund, China will continue to act in such a way.

“I expect China to do more,” said Georgiyeva. The Chinese authorities’ measures to support the economy are well calibrated, some of them are temporary, the financier added. She praised the Chinese leadership for its actions.

On 16 April, the IMF Executive Board approved a six-month postponement of the debts of the 25 poorest member countries due to the coronavirus pandemic. Four more countries will request financial help in the coming weeks.

On April 14, the IMF presented a report, according to which the world economy will grow by 5.8% in 2021, but will shrink in the current, 2020, by 3% due to the Coronavirus Pandemic.