Tashkent, Uzbekistan (UzDaily.com) -- The international rating agency Moody’s Investors Service has updated its report on the global macroeconomic situation, raising the forecast for China’s economic growth this year from 1 to 1.9% and predicting the growth of the PRC’s economy next year by 7%.

The agency notes that in the 2nd quarter industrial production and investments in illiquid assets grew in China, and real GDP growth turned out to be better than expected.

After defeating the COVID-19 epidemic, citizens have returned to their jobs, their disposable incomes have increased, which will increase market consumption.

The report predicts a 4.6% contraction in the G20 economy. China will become the only economy to show growth by the end of the year.