Arab Today, arab today korean economy expected to grow 35 next year
Last Updated : GMT 14:37:31
Arab Today, arab today
Arab Today, arab today

Korean economy expected to grow 3.5% next year

Arab Today, arab today

Arab Today, arab today Korean economy expected to grow 3.5% next year

Seoul - Yonhap

Most economic forecasters at home and abroad Wednesday said they expect the South Korean economy to grow an average of 3.5 percent next year, which is lower than the government estimate of 3.9 percent, citing volatile economic conditions, including the Fed\'s plan to pull back from bond purchases. Of 36 economic forecasters, 29, or 80.6 percent, predicted the country\'s economy growth rate will fall below 3.9 percent next year. Only seven forecast it will rise above the government projection, or remain at the projection, according to data by the Korea Center for International Finance (KCIF). ING, a global financial institution of Dutch origin, as well as Germany\'s DekaBank, expect the South Korean economy to grow only 2.6 percent, while USB, HSBC and Credit Suisse forecast that the country\'s economy will be in the lower range of 3 percent. The 2014 growth projection for the South Korean economy by seven financial institutions, including BNP Paribas and Barclays, reached between 3.9 percent and 4 percent. According to the data, the government estimate was 1.3 percentage points higher than the gloomiest outlook of 2.6 percent, and 0.1 percentage point lower than the rosiest forecast of 4 percent. Local economic analysts also predicted that the government may have difficulty in achieving its economic growth target of 3.9 percent next year, as it remains to be seen whether or not the global and domestic economy will bounce back. \"The government should fare better next year to achieve its economic growth target of 3.9 percent,\" said Kwon Soon-woo, a chief economist at Samsung Economic Research Institute. Cho Yong-moo, another analyst at LG Economic Research Institute, said \"The government seemed to have painted a rosy outlook on its economic growth for next year. The economic recovery may not be strong due to weak domestic demands.\"    The Bank of Korea, South Korea\'s central bank, is expected to lower its 2014 forecast of the country\'s economic growth to between 3.8 percent and 3.9 percent on Thursday after a monthly rate-setting meeting.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today korean economy expected to grow 35 next year Arab Today, arab today korean economy expected to grow 35 next year

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today korean economy expected to grow 35 next year Arab Today, arab today korean economy expected to grow 35 next year

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday