April 19, 2024
Economy
KDI upgrades 2017 growth estimate
[THE INVESTOR] A state-run think tank revised up its 2017 growth forecast for the Korean economy to 2.6 percent on April 18.
“We raised the forecast as exports improved at a faster-than-expected clip on the back of recovered global demand, and with investments likely to maintain its upbeat pace,” said Kim Seong-tae, a senior researcher at the Korea Development Institute, in a press conference.
In its earlier forecast in December, the KDI had said Korea would pull off 2.4 percent growth. It is the first time since November 2013 that the think tank has raised its economic outlook.
For 2018, the economy is predicted to post a 2.5 percent growth due largely to a slowdown in facility and construction investment, said the institute.
By Alex Lee and newswires (alexlee@heraldcorp.com)
“We raised the forecast as exports improved at a faster-than-expected clip on the back of recovered global demand, and with investments likely to maintain its upbeat pace,” said Kim Seong-tae, a senior researcher at the Korea Development Institute, in a press conference.
In its earlier forecast in December, the KDI had said Korea would pull off 2.4 percent growth. It is the first time since November 2013 that the think tank has raised its economic outlook.
For 2018, the economy is predicted to post a 2.5 percent growth due largely to a slowdown in facility and construction investment, said the institute.
By Alex Lee and newswires (alexlee@heraldcorp.com)
