Economic Growth Rate will be 4% next year
It is forecast that Korea’s economic growth rate will be 4% next year. According to major domestic and international financial institutions, Korea’s economic growth cannot be over 4% due to a sluggish global economy. The predicted rate is lower than the 4.6% that the Ministry of Finance and Economy and the Ministry of Planning and Budget have forecast.
Hyundai Research Institute provisionally analyzed that the growth rate will be 4.2% next year, indicating that major dangers for next year will be a slowdown in the US and global economies, possibility of an upturn in oil prices, unstable policy ahead of the presidential election, and North Korea’s nuclear issue.
A source from LG Research Institute stated that it will soon announce its economic growth rate for Korea.
Samsung Economic Research Institute released ‘Economy Prospective of 2007’ on September 12. The report says that global economic growth will drop from 3.7% to 3.3% next year, causing a global weakness of the dollar and high oil prices. In the same month, the Korean Economy Research Organization released next year’s rate at 4.1%. Korea-based international investment banks also forecast that there will be 4% economic growth in Korea.
According to the International Finance Center, major international investment banks, such as ABN, Citibank, Goldman Sachs, JP Morgan, Morgan Stanley, and UBS, estimated the economic growth of Korea for next year at 4.25% in mid-September. A recently retired Morgan Stanley official analyzed that the global economic slowdown will impact Korea next year and that Korea will have to take proper measures for it. Most international institutes predict that there is no possibility that the Korean economy will shrink suddenly next year.
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 / 입력시간: 2006. 10.10. 10:01
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