We begin with gloomy outlook for the South
Korean economy. The OECD has AGAIN slahsed its growth outlook
on Asia’s fourth-largest economy for 2019. Making matters all the more concerning, it’s
the OECD’s third downward revision for South Korea since March. The organization’s outlook for the global
economy isn’t much better either. Kim Mok-yeon reports. The OECD has lowered its 2019 growth forecast
for the South Korean economy to two-point-one percent… down point-three-percentage-points
compared to its earlier estimate in May. The OECD’s Interim Economic Outlook report
for September said the South Korean economy will grow at a slower pace than its previous
forecast of 2.4 percent, citing persistent weak global trade and soft import demand in
China. However, the OECD forecast the South Korean
economy to grow two-point-three percent in 2020, faster than this year, saying the government’s
recent efforts on macroeconomic policies could lead to increased domestic demand. The latest downward revision comes amid concerns
over slowing exports caused by the ongoing U.S.-China trade war and a trade row between
South Korea and Japan. However, the South Korean government stressed
that the OECD forecast is relatively good compared to other member states with similar-sized
economies to South Korea. The OECD also cut its growth outlook for the
world economy for this year and next year, to 2.9 percent, and 3 percent respectively,
each were downwardly revised by point-three percentage points from its May forecast. The OECD pointed out that such figures would
be the weakest annual growth rates since the global financial crisis in 2009. The report cited trade policy tensions as
the major factor for the cuts, and stressed the need for collective efforts to stop the
build-up of trade-distorting tariffs and to restore a transparent rules-based system that
encourages businesses to invest. Kim Mok-yeon, Arirang News.

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2 thoughts on “OECD cuts S. Korea’s 2019 economic outlook to 2.1% from previous estimate of 2.4%”

  1. #2019 GROWTH FORECAST:"OECD cuts S.Korea's 2019 Economic outlook to 2.1% From…..?? #To,Hon'ble: Sir,"I'm very happy…."GOD" bless us all….I miss you always…."Mere Ati Priyon,"Vakht ka Saayaa,Jan Maanush ki Bouddhik chumtaa ko;Etnaa Neerush banaa diyaa hai ki,"MAANAVTAA ki MUNHUK Khoo chuki hai! Aishe mein Yadi Tunhaa PEOPLE ke sumbandh mein nafrat se Mashtisk bhar gayaa ho….??Too ab meri Apeel hai ki,"VISHRAAM Lein!!Ab GROWTH FORECAST 2019: Ke Subject ki baat Yah hai,"Kripyaa,"Ye na bhoolein ki,"SWAIT KRANTI ke samaaj ko Netritav karne waalaa,Aur PRAKHER BUDDHI ki AABHAA se HARIT KRANTI ko DISHAA dene ka kaarya:Eshi SANAATAN DHARAM ki Chaturaai nein VANASHPATIYON ke Bhandaar se,ANN- FAL-FOOL-KANDMOOL Aadi ki Pahchaan kar;PARJIVI AAHAARON par Pratibandh lagaayaa thha!Mere Priyon,"Eshi Uplubdhi mein Plate Jiwan ko Vaashtviktaa ke shikaar tuk Pahunchaanaa;Tabhi Esh Rahan-Sahan ko CHAAR CHAAND LAGE……Aur BHARAT ko,"SOONE KI CHIDIYAA WAALAA MULK" ke Naam se;Duniyan mein Bahucharchit huwaa!Ye PURUSHOTUM ke PAANCH YOODDHAON ki Jiwan Gaathhaa hai,Jo apne kaarya kaal tuk SAMAAJ par BAADSHAAHUT ke TAAJ mein Mushkraate Rahe…??Ji Haan,"Eshi Samaaj ka PEOPLE,Aaj Duniyan ki Najron mein Jaane kitne Ulaahne Sah kar Jee Rahaa Hai!!Dhanyabaad!#Yours Faithfully:Shyam Lal Bharti/"WISDOM OF KING" BHARAT.

  2. Too bad the majority of South Koreans still think that they are on the right track under Moon's administration as long as Moon is dissing Japan one way or another.

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