>>17025799Mr. Ramen gukoo-san
are your country OK?
IMF Raises Global Growth Forecast for this Year, but Revises South Korea Downward...South Korea's Weaknesses as Seen by IMF
1/31 (Tue) 13:31
JoongAng Ilbo
The International Monetary Fund (IMF) has raised its forecast for global economic
growth this year from 2.7% to 2.9%, but it has revised its forecast for the ROK
downward from 2.0% to 1.7%. Despite the reopening of China, the aftermath of the
semiconductor export shock will limit the positive effect on Korea's economy.
According to the Ministry of Strategy and Finance, in its World Economic Outlook (WEO)
released on the same day, the IMF put the projected economic growth rate for the ROK
at 1.7% this year. This is 0.3 percentage points lower than the previous forecast (2.0%)
that came out last October. This is the third consecutive time that the IMF has made
a downward adjustment to its forecast, following its July announcement of 2.9% to 2.1%
and its October announcement of 2.1% to 2.0%.
On the other hand, the IMF raised its forecast for global economic growth this year from
2.7% to 2.9%. It cited China's reopening expectations and unexpectedly strong consumption
and investment in the U.S., Europe, and other major economies as the basis for the ncrease,
despite the interest rate hike to cope with inflation and the war between Russia and Ucraine.
The growth forecast for major advanced economies was raised by 0.1 percentage point
to 1.2%. The forecast for the U.S. growth rate was revised upward from 1.0% to 1.4%,
and that for the euro zone from 0.5% to 0.7%. China raised its forecast by 0.8
