South Korea is facing a crisis in which its economic growth rate has fallen below the Organization for Economic Co-operation and Development (OECD) average for the first time in three consecutive years. According to the Ministry of Planning and Finance, the OECD announced its mid-term economic forecast on the 19th.
So, South Korea's economic growth rate this year is expected to be 1.5%. Japan's growth rate is expected to be 1.8%, which is expected to be the first time since the currency crisis that the country will record a growth rate lower than that of Japan, a typical low-growth country.
It is expected. The current forecast for South Korea's growth rate is at the same level as the forecast in June. While South Korea's growth rate has stalled, forecasts for major countries around the world have been revised upward one after another. US is 1
The expected growth rate was raised from .6% to 2.2%, Japan from 1.3% to 1.8%, and France from 0.8% to 1.0%.
The growth rate forecast for the world economy and the 20 major countries (G20) has also increased by 0.3% from the previous estimate. This was previously announced in June.
The OECD average growth rate forecast was 1.4%, but in light of recent economic recovery trends in major countries, the economic forecast for November is expected to be revised upward.
Even maintaining the current growth rate in South Korea is unlikely to be easy. The OECD has suggested a growth rate of 1.5%, but the Korean government, Bank of Korea, and international
The Monetary Fund (IMF) forecast is 1.4%. Additionally, the Asian Development Bank (ADB) has provided a forecast of 1.3%. The outlook for the economy to improve in the second half of the year is becoming increasingly uncertain.
It's coming. This is due to sluggish export growth and soaring oil prices. If this trend continues until the end of the year, South Korea is likely to record a lower economic growth rate than the average for OECD countries this year.
It seems that.
2023/09/25 07:02 KST
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