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IMF urges China to prepare stimulus

Beijing's annual economic growth could be cut nearly in half

(REUTERS) — China’s annual economic growth could be cut nearly in half this year if Europe’s debt crisis tips the world economy into a recession, putting pressure on Beijing to unveil “significant” fiscal stimulus, the International Monetary Fund said.

The Fund outlined its central scenario for China’s 2012 growth outlook in its global outlook in January, cutting its forecast for 2012 growth from 9 percent to 8.2 percent.

The China Economic Outlook published on Monday showed that under the IMF’s “downside” forecast for the global economy, China’s growth rate may be cut by around 4 percentage points from the fund’s current forecast of 8.2 percent in 2012.

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