Over the weekend, the People’s Bank of China announced it would inject about 1,200 billion yuan ( $ 174 billion) into its financial system, including tax cuts, to support the economy. effects of corona virus outbreak.

However, international experts say the Chinese government is facing many difficulties. Because the pandemic erupted at a time when China’s economic growth had dropped to its lowest level in 30 years.

"We do not think the measures taken by the People’s Bank of China are sufficient to bring the Chinese economy to recovery," CNBC quoted capital economist Hubert de Barochez of Capital Economics.

"The tax cuts will not be able to help restore economic activities after Chinese authorities implemented anti-epidemic measures such as banning tourism and closing businesses," de Barochez said. .

"Even with an optimistic scenario is the disease under control quickly and the economic activity soon return to normal , we believe that the People’s Bank of China still need to cut further cut interest rates in This year, "he added.

In the first trading session after Chinese New Year on February 3, the Chinese stock market plunged by 8% also because investors were concerned about the long-term economic impact of the Wuhan virus outbreak.

Earlier, the famous economist Mohamed El-Erian also said that central banks can hardly save the economy in cases like the corona virus.

Citigroup recently cut its forecast for China’s GDP growth this year due to the long-term effects of the corona virus outbreak. Citi analyst Xiangrong Yu said China’s first-quarter growth could fall to 4.8%.