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The Organization for Economic Cooperation and Development (OECD) cut its 2023 economic growth outlook for Korea to 1.5 percent from 1.6 percent, Wednesday, despite an upward revision of its global economic outlook. ....
The Bank of Korea (BOK) lowered this year s growth forecast for the country to 1.4 percent from 1.6 percent, Thursday, as a prolonged slowdown in exports has increasingly weakened growth momentum. Amid growing economic woes, the central bank kept the key interest rate steady at 3.5 percent for the third consecutive time following February and April. ....
The International Monetary Fund (IMF) cut its 2023 economic growth forecast for Korea to 1.5 percent, Tuesday, down from a previous forecast of 1.7 percent announced in January. The IMF also lowered its world economic growth outlook to 2.8 percent from 2.9 percent, assessing that the global economy will undergo a “rocky recovery” due to the war in Ukraine, a risk of geo-economic fragmentation and the existing high level of inflation. ....
The Organization for Economic Cooperation and Development (OECD) lowered its 2023 growth forecast for Korea to 1.6 percent, Friday, down from 1.8 percent in its previous outlook given in November. The outlook for Asia s fourth-largest economy contrasts with a global economic growth forecast that has been revised up to 2.6 percent from the previous 2.2 percent.. ....
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