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Economic Research Institutes Revise Their Forecasts

Dec 18,1998
As sentiments on the country's economic situation have recently improved, private economic research institutes including Hyundai, Samsung, Daewoo and LG have revised their economic forecasts.
Earlier, private institutes had forecasted growth rates for next year to lie somewhere between minus 1.8 to minus 1.1 percent.
But now, Samsung revised its forecast to 1.5 percent and LG to 2.1 percent.
LG analysts estimate that the current account surplus will reach 24.2 billion dollars (Samsung went as high as 28.3 billion dollars) with exports being between 133.6 billion to 137.5 billion dollars next year.
The institutes cautioned that it would be unwise to expect an outstanding recovery next year despite the recent symptoms of recovery.


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