S. Korea Ridden With Downside Risks
World Economy

S. Korea Ridden With Downside Risks

The South Korean economy is expected to attain 2.6% growth this year, the same rate recorded in 2015, as sluggish domestic spending and shrinking exports continue to weigh on Asia’s fourth-largest economy, a local think tank said Monday, Yonhap reported. Its growth will likely slow to 2.4% in the second half following an estimated 3% growth in the first half, the Korea Institute of Finance said in a report. “Private consumption is expected to post 1.4% growth in 2016, lower than 2.2% in the previous year, as the consumption tax cut has expired (at the end of the first quarter),” it said. The nation’s economy has also struggled to boost exports, another pillar of its growth. Exports dipped 10.2% in July from a year earlier, the 19th consecutive month of decline amid the local currency’s appreciation. The KIF took note of the government’s aggressive efforts to prevent a further downturn through the first quarter especially through a rate cut in June and the frontloading of massive extra budget.


Short URL : http://goo.gl/qzNQvk
  1. http://goo.gl/xJSv9v
  • http://goo.gl/BSwl7q
  • http://goo.gl/AeaaWc
  • http://goo.gl/HTp6Q3
  • http://goo.gl/Xg7FIl

You can also read ...

WTO head Roberto Azevedo renews his concerns over worrying political headwinds, especially protectionism.
The World Trade Organization on Thursday upped its forecast...
The Reserve Bank of New Zealand
A leading global FX analyst expects New Zealand dollar to...
Asian central banks are not expected to mirror the Fed rate cycle as closely as in the past. The picture shows Indonesia Central Bank.
As the Federal Reserve signals an end to its decade of...
IMF Says Macron Reforms Crucial for French Growth
The government of French President Emmanuel Macron needs to...
Canada Doing Well
With strong economic growth in the first half of the year, the...
ECB: Immigration Boosts Euroland Labor Force
Immigrants have made a large contribution to the working-age...
Russia Overcomes Recession
The national economy is growing and creating a base for future...
Sub-Saharan Africa is still the world’s least industrialized region.
While much of Africa has achieved impressive economic growth,...