▶주메뉴 바로가기

▶본문 바로가기

The Korea Herald
검색폼

THE INVESTOR
March 29, 2024

Economy

Korea lowers growth forecast for this year and next

  • PUBLISHED :December 29, 2016 - 11:14
  • UPDATED :December 29, 2016 - 11:14
  • 폰트작게
  • 폰트크게
  • facebook
  • sms
  • print
[THE INVESTOR] South Korea on Dec. 29 cut its economic growth forecast for this year and next again.

The 2017 growth forecast has been slashed by 0.4-percentage point to 2.6 percent for next year, while for this year it is down to 2.6 percent from 2.8 percent.

The reasons cited are the stronger-than-expected downside risks such as partial strikes at major carmakers weighed heavily on the economy in the fourth quarter.

In the 2017 policy plan unveiled at a ministerial meeting in Seoul chaired by Acting President Hwang Kyo-ahn, the government said it will take more expansionary fiscal policy to spur growth and prepare to deal with future external and internal drags.

Other public and private institutions have already made downward revisions of their own growth estimates.

(theinvestor@heraldcorp.com)

EDITOR'S PICKS