Analysts lower forecasts for Chinese economy

Analysts at Fitch believe that China’s economy will grow by only 3.7 per cent in 2022 due to the country’s difficulty in relaxing measures against the Covid-19 pandemic.

China.- Analysts at Fitch have lowered their forecasts for the Chinese economy this year, reducing their predictions for growth from 4.3 per cent to 3.7 per cent. They expect the country to see a recovery from the second quarter of the year and growth of 5.3 per cent next year.

The agency lowered its forecasts as China continues to enforce strict Covid-19 countermeasures in the face of new outbreaks.

In Macau authorities announced a further relaxation of Covid-19 countermeasures, reducing the quarantine requirement for visitors to ten days plus seven days of self-monitoring. It has said it will allow entry of non-resident employees and their families from all countries from June 24.