2.3% Growth Expected Next Year
The Korea Finance Research Institute (KFRI) forecasted in a report released on November 11 that the Korean economy will accomplish a 2.3% growth (GDP) next year from minus 5.7% this year.KFRI predicted that growth rate will record minus 0.8% in the first quarter of next year but will turn around into positive growth from the second quarter of next year.
Meanwhile, the institute estimated that the value of the Korean won against the US dollar will move in the range of 1,300 won in the first half next year and rise to the 1,200 won level and the yield for three year due debentures will stabilize to the 10% level.
with the Korea JoongAng Daily
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