Economic Growth Rate Outlook to be Changed to Positive

Home > Business > Economy

print dictionary print

Economic Growth Rate Outlook to be Changed to Positive

The forecast for Korea's economic growth rate will be changed from minus to plus concluding a meeting with the International Monetary Fund(IMF) later this month.
According to the Minister of Finance and Economics on January 10, last year the IMF foresaw Korea's economic growth rate as minus 1 percent for 1999, but this term, it will change it to an undetermined positive level.
The fundamental material used by the IMF to assess a country's projected growth rate is mainly based upon older models generated by the financial crises that occurred in Russia and Latin America.
The Korean government expects a two percent growth rate with 5 percent inflation for 1999. Furthermore, the general trade surplus is projected to be 20 billion dollars with 55 billion dollars in the foreign exchange reserve.
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
s
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)