IMF lowers S. Korea's growth forecast to 2.0 percent for next year

By Hwang Doo-hyong
WASHINGTON, Nov. 24 (Yonhap) -- The International Monetary Fund Monday
significantly lowered its prediction for South Korea's economic growth rate for
next year to 2.0 percent from its earlier prediction of 3.5 percent, citing the
ongoing global financial crisis adversely affecting spending and exports.
The lending agency projected South Korea's growth rate for next year at 3.5
percent in October and 4.3 percent in July.
The figure is just half of the South Korean government's projection of 4 percent
growth for next year, and much lower than projections made by South Korean think
tanks.
The Korea Development Institute recently put the figure at 3.3 percent, while the
Samsung Economic Research Institute projected 3.6 percent.
hdh@yna.co.kr
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