International Monetary Fund raises S.Korea 2017 growth outlook, cites robust exports

Share
International Monetary Fund raises S.Korea 2017 growth outlook, cites robust exports

Wrapping up a two-week visit, the International Monetary Fund said it expects Asia's fourth-largest economy to expand 3.2 percent this year, up from its earlier prediction of 3.0 percent.

This year's growth outlook was revised up to 3.2 percent from 3.0 percent estimated by the worldwide body in the previous month.

"This recovery in many countries of Europe is now increasingly solidifying and strengthening", said Jorg Decressin, deputy director of the IMF's European Department.

The IMF raised its 2017 GDP estimate to 3.2 percent from 3 percent projected in September.

The IMF also said growth is forecast at around 3 percent in 2018, with private consumption growth benefiting from the large minimum wage increase and from policies supporting employment and social spending.

The IMF delegation, which has held an annual meeting with the South Korean government from early this month, announced the meeting result and upgraded its growth forecast for the Asian economy, according to the Ministry of Strategy and Finance.

The worldwide body recommended South Korea to maintain accommodative monetary policy and expansionary fiscal policy.

Unemployment rate will reach 9.5% this year, 9.3% next year, and 8.8% in 2019.

Share

Advertisement

Related Posts

Barrick Gold Corp (ABX) Investment Up in Latest Report from Alliancebernstein LP
Majedie Asset Management Ltd increased its position in shares of Barrick Gold Corporation by 7.8% in the second quarter. Franklin Resources Inc. increased its position in shares of Barrick Gold Corporation by 41.7% in the second quarter.

Russia, US thoroughly discuss possibility to deploy United Nations mission to Ukraine
Volker said Washington wants the mission to monitor the entire conflict area and make sure heavy weapons are pulled back. Both Surkov and Volker were confident that "the Minsk Agreements should be implemented".

Coast Guard denies firing at Tamil fishermen in Palk Bay
He said the Coast Guard personnel had beaten them up again stating that they should learn Hindi. Pitchai said he was injured when the rubber bullets fired from the ship hit him on his hand.

Intuit Inc. (INTU) Now Covered by Analysts at UBS AG
Godshalk Welsh Capital Mngmt invested 1.81% of its portfolio in Intuit Inc. (NASDAQ:INTU) rating on Thursday, September 21. The United Kingdom-based Wellcome Trust Ltd (The) As Trustee Of The Wellcome Trust has invested 6.41% in the stock.

3 Secrets of Innovation Development by Max Polyakov
Also, the investor should never forget that even the biggest amount of invested resources doesn’t guarantee a success. One of the recent examples is the mass closing of brick-and-mortar shops in the USA because of Amazon’s popularity.

Governments in 30 countries pay 'keyboard armies' to spread propaganda, report says
Other countries also increased their efforts to censor and manipulate information, the report said. Fake news and alternative facts are being employed by more governments than ever before.

McLaren Ultimate Series Hypercar Teased Before December 10 Reveal
It will be unveiled in an online exhibition on 10 December with its public debut penned in for the Geneva Motor Show next March. Last month, McLaren teased the triple exhaust outlets of the vehicle as the first teaser of the upcoming Ultimate Series model.

Per person disease burden drops by 36 per cent
Urbanization and aging have led to increasing poor health conditions related to non-communicable diseases in all states. More data are available through IHME's data visualization at: https://vizhub.healthdata.org/gbd-compare/india .

Russian FM says Iran can legitimately stay in Syria
Gadi Eisenkot secretly flew to Brussels on Friday where he met with met with the head of the US Army's European Command Gen. The presence of Iran in Syria is legitimate, Lavrov was quoted as saying by another agency, Interfax.

Fatal Crash on I-5 in Del Mar Slows Morning Commute
About half a mile south of that collision, a pickup truck crashed into several vehicles about 4:45 a.m. A 27-year-old La Mesa man driving a Toyota struck the center divide about 2:30 a.m.

© 2015 ExpressNewsline. All Rights reserved.