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Fri, Jun 19, 2009 - Page 1　News List

World Bank ups 2009 forecast for Chinese growth

GOVERNMENT HELPAn economist at the World Bank says Chinese stimulus packages will provide up to 6 percent of the country’s growth this year alone

AP , BEIJING

Last month’s exports plunged by a record 26.4 percent from the same month of last year.

The World Bank estimates each percentage point of lost growth in China’s non-agricultural GDP means 5.4 million fewer jobs.

Nevertheless, Kuijs said the bank saw no need for more stimulus plans this year because Beijing already has spent so heavily.

“It would be good to have some fiscal fire power left next year,” Kuijs said.

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