International Monetary Fund raises 2017 growth outlook for South Korea

Europe becoming 'an engine of global trade', according to the IMF

Europe becoming 'an engine of global trade', according to the IMF

On October 26, the National Bank of Ukraine downgraded the forecast for inflation in 2017 from 9.1% to 12.2%.

The International Monetary Fund said on Tuesday it expects South Korea's economy to expand by 3.2 percent this year, slightly faster than it had previously forecast, as a cyclical recovery led by exports will continue through the fourth quarter.

This year's growth outlook was revised up to 3.2 percent from 3.0 percent estimated by the worldwide body in the previous month.

"The momentum is very strong", Tarhan Feyzioglu, IMF's mission chief for the country, told reporters, adding that "3.2 percent is very feasible".

The IMF delegation, which has held an annual meeting with the South Korean government from early this month, announced the meeting result and upgraded its growth forecast for the Asian economy, according to the Ministry of Strategy and Finance.

"This recovery in many countries of Europe is now increasingly solidifying and strengthening", said Jorg Decressin, deputy director of the IMF's European Department.

Feyzioglu, however, warned that skyrocketing household debt, which exceeds 90 percent of South Korea's gross domestic product, was a key financial risk.

Notícias recomendadas

  • Turkish president arrives in Kuwait for talks

    Turkish president arrives in Kuwait for talks

    Turkey and Kuwait's military chiefs of staff held talks on the "developing and strengthening" military cooperation, according to KUNA.
    Vidya Balan shuts the reporter like a boss for fat shaming her

    Vidya Balan shuts the reporter like a boss for fat shaming her

    However, it's really hard to change people's perspective who think a well toned up body of a woman can only be called glamorous. The female reporters present chimed in after that with their support for her and a smiling Vidya thanked them.
    Ashes: England's Moeen Ali fit to play third tour game

    Ashes: England's Moeen Ali fit to play third tour game

    Root, however, rubbished the predictions, saying the visitors are ready to face all the challenges during the series. It sounds a daunting task for England, who can be sure at least they have Moeen fully fit again with bat and ball.
  • Death row inmate gets pillow to help him breathe during execution

    Death row inmate gets pillow to help him breathe during execution

    James McWeeney noted there were no objective findings such as increased pulse rate or breathing to corroborate Campbell's anxiety. He was paroled in 1992 and, in 1997, he overpowered a Franklin County sheriff's deputy while in a wheelchair.
    Bill & Brian Doyle Murray Playing Ball With Facebook Watch

    Bill & Brian Doyle Murray Playing Ball With Facebook Watch

    Bill Murray is teaming up with his brother to launch an online show about minor league baseball. The first episode of " Extra Innings " will premiere November 20 on Facebook Watch.
    Sam Mendes Exits Disney's Live-Action 'Pinocchio'

    Sam Mendes Exits Disney's Live-Action 'Pinocchio'

    He was previously in talks for the live-action James and the Giant Peach adaption before exiting the movie for Pinocchio . No news on who will replace Mendes on Pinocchio , but we'll keep you updated.
  • Apple préparerait de nouveaux iPhone pour 2018

    Apple préparerait de nouveaux iPhone pour 2018

    Ainsi, la version 6, 5 pouces aura 480 à 500 ppp et la version 6,1 pouces (l'écran LCD) aura 320 et 330 pixels. Les deux versions doteront d'une dalle OLED et la dernière version d'un écran LCD de 6,1 pouces.
    Brendon Hartley forced to retire at Brazilian Grand Prix

    Brendon Hartley forced to retire at Brazilian Grand Prix

    Force India's Sergio Perez was ninth and Germany's Nico Hulkenberg, lapped by the leader, took the final point for Renault. Even then, I'm pretty sure there would have been a lot of Renault personnel spending the race with their fingers crossed.
    Niger, Benin Republic pay $64.6m electricity debt

    Niger, Benin Republic pay $64.6m electricity debt

    What they are likely to get are minimum amounts of $10,000 (N3.5m) and maximum amounts of $300,000. He said that progress was also being recorded at the distribution levels.
  • New Zealand Prime Minister: Barong scratchy, 'quite starched'

    New Zealand Prime Minister: Barong scratchy, 'quite starched'

    The Philippines and New Zealand signed an amendment to extend geothermal energy cooperation . This, as it committed to spur the development of the country's geothermal output.
    Warface is getting a Battle Royale mode

    Warface is getting a Battle Royale mode

    Plenty of achievements to unlock! Download the game from the official website or via Steam today - completely for free. No round will ever feel the same - you never know where you're headed until the "Zone" hits.
    Skipper Mikel Obi warns Argentina Super Eagles now much improved

    Skipper Mikel Obi warns Argentina Super Eagles now much improved

    One of the biggest fixtures of the global break features Argentina and Nigeria clashing swords in Russian Federation . Ironically, he is one of five Nigeria players who can boast of having scored against Argentina at senior level.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.