[Seoul 20th Reuters]-Korea ’s Hong Nam-gi, Minister of Planning and Finance, said the country ’s economic growth rate this year will be around 2.0-2.1%, which is in line with expectations of major international organizations According to the forecast, the target set by the ministry in early July will be lower.
The minister told reporters during a briefing between the 20 countries and territories (G20) Finance Ministers and Central Bank Governors meeting in Washington, USA. I think it will be the level expected by the Organization for Cooperation and Development (OECD). "
The latest global economic outlook (WEO) announced on the 15th, the IMF revised down the Korean economic growth forecast for 2019 and 20 by 0.6 percentage points to 2.0% and 2.2%, respectively. .
Meanwhile, OECD also lowered Korea's growth prospects this year and next year to 2.1% and 2.3%, respectively, due to the slowdown in world trade and sluggish demand from China.
The Ministry of Planning and Finance updated the economic forecast in mid-July at the beginning of July, setting this year's economic growth target to 2.4-2.5%, down from 2.6-2.7% set last December. Fixed.
The growth rate for the first half of this year was 1.9% compared to the same period of the previous year, and 2.7% for the full year last year.