ADB and the IMF raise South Korea’s growth forecast for this year 2.6%
The Asian Development Bank and the International Monetary Fund 8said in reports released on 2.6%2.3% to 2.7The ADB raised its inflation forecast from % to %, while the IMF revised up its forecast for South Korea on the basis of strong semiconductor demand.
![ADB and the IMF raise South Korea’s growth forecast for this year 2.6%/blog-images/gen-d4eb202c-d687-447a-ba1e-38133aa785c6.jpg)
The Asian Development Bank (ADB) and the International Monetary Fund (IMF) 8raised their forecast for South Korea’s growth this year to 2.6%. This is a key indicator for gauging the pace of economic recovery and export trends, drawing intense market attention.
The ADB 4forecast in 1.9% to 2.6%. The report said this reflected stronger growth than expected in the 1quarter.
The ADB raised its consumer price forecast for this year from the previous 2.3% to 2.7%. The Ministry of Economy and Finance said government measures in response to the conflict in the Middle East had partially cushioned the economic shock.
ADB presented next year's growth forecast at 2.0%, raising it by 0.1% points from its previous forecast.
The IMF also 4monthly forecast 1.9% for this year's Korean growth rate to 2.6%. The IMF said Korea's forecast was G20 the highest among major advanced economies.
The IMF slightly lowered its global economic growth forecast to 3.0%. For Korea, it cited robust semiconductor demand as the basis.
Both institutions' reports were 8 released publicly. The figures and explanations can be verified in the original reports and press materials.
For reference, this upward revision resulted from quarterly forecast adjustments by each institution, and each institution's detailed estimates should be checked in the main body of its report.