[ad_1]
Next year’s growth rate will jump from 2.8% to 3.0%
Economic activity resumed due to the commercialization of the Corona 19 vaccine, etc.
On the 26th, the Bank of Korea increased its economic growth rate by 0.2 percentage points this year from -1.3% to -1.1%. The growth rate for the next year also went from 2.8% to 3.0%. In the revised economic outlook announced today, the BOK adjusted its forecast for this year’s real gross domestic product (GDP) growth rate by 0.2 percentage points from -1.3% presented in August to -1, 1%.
At the time, it was estimated in the scenario that the second Corona 19 spread would subside by October. With the start of the third outbreak this month, an unexpected variable has occurred in the economic recovery trend, but it appears that the economic shock may be limited than expected thanks to the continued recovery in exports.
The growth rate for next year stands at 3.0%. This is 0.2 percentage points higher than the previous forecast (2.8%). A strong economic rebound is expected due to the marketing of the Corona 19 vaccine and the possibility of restarting economic activities in each country. The growth rate in 2022 is expected to be 2.5%. Consumer price increases this year and next are expected to be 0.5% and 1.0% respectively. The inflation rate for 2022 was presented at 1.5%.
Although the BOK has increased its growth rate, negative growth of the order of 1% is inevitable this year. If the forecast is fulfilled, the Korean economy will record the worst in 22 years since 1998 (-5.1%) during the financial crisis, and the third negative growth in history after 1980 (-1.6%) and 1998. when the second oil shock occurred. .
Copyright © News Touch Unauthorized reproduction and redistribution prohibited
Source link
