August 16, 2022

The International Monetary Fund (IMF) predicts that the Korean economy will grow by 3% next year and 2.9% this year.

The IMF released its Global Economic Outlook Report on April 17, forecasting its growth prospects for GDP this year and next year. This is consistent with what the IMF and the Korean government predicted in their report in early February.

This figure is slightly lower than last year’s growth rate of 3.2%, but still in line with the South Korean government’s expectations. The IMF took into account the fact that Korea’s export performance is good and the government is expanding its money-making policy.

Other international organizations, such as the Organization for Economic Cooperation and Development (OECD) and the Asian Development Bank (ADB), also projected Korea’s growth rate at 3.0% this year. If this trend continues, the South Korean government’s goal of achieving 3% economic growth this year is expected to be achieved without difficulty.

The IMF publishes two global economic reports each year in April and October. They predict each country’s economic growth rate. The IMF maintained its forecast for global economic growth at 3.9% for both this year and next year, which was released in its economic outlook report released in January.