OECD cuts S. Korea's 2024 growth outlook to 2.5 pct
Social affairsSept 25, 2024
The Organization for Economic Cooperation and Development (OECD) slashed the growth outlook for the South Korean economy to 2.5 percent this year, Seoul's finance ministry said Wednesday. The latest figure marked a 0.1 percentage point fall from its projection presented in May and is on a par with the forecasts by the International Monetary Fund. The South Korean government expected a 2.6 percent expansion, and the Bank of Korea (BOK) forecast a 2.4 percent growth this year. "Growth is