Most Popular
-
1
Heavy snow alerts issued in greater Seoul area, Gangwon Province; over 20 cm of snow seen in Seoul
-
2
Seoul blanketed by heaviest Nov. snow, with more expected
-
3
Seoul snowfall now third heaviest on record
-
4
Samsung shakes up management, commits to reviving chip business
-
5
Heavy snow of up to 40 cm blankets Seoul for 2nd day
-
6
How $70 funeral wreaths became symbol of protest in S. Korea
-
7
Seoul's first snowfall could hit hard, warns weather agency
-
8
Why cynical, 'memeified' makeovers of kids' characters are so appealing
-
9
Hybe consolidates chairman Bang Si-hyuk’s regime with leadership changes
-
10
BOK makes surprise rate cut to lift growth
Korea’s potential growth rate to remain at 3.6%: report
By Korea HeraldPublished : Oct. 9, 2014 - 19:44
South Korea’s potential economic growth is expected to remain in the mid-3 percent range in the next five years due to sluggish investment and a lack of new growth engines, a parliamentary report said Thursday.
The National Assembly Budget Office forecast the nation’s potential growth rate to average 3.6 percent in the 2014-2018 period, which is the pace at which annual output can expand without pushing up inflation.
The potential growth rate had stood at 5.2 percent in 2001 and 2002, but fell to 4.8 percent from 2003 to 2005 due to decreasing domestic demand. It further slipped to 4.2 percent in 2006 and 2007, and tumbled to 3.5 percent since 2008.
Financial experts said the lower projection was in consideration of the tepid investment, shrinking workforce and weak domestic demand.
“The investment and productivity growth of the nation’s economic inputs have slowed compared to the period before the global financial crisis,” said Shin Hu-shik, the macroeconomic analyst at the parliamentary office. (Yonhap)
The National Assembly Budget Office forecast the nation’s potential growth rate to average 3.6 percent in the 2014-2018 period, which is the pace at which annual output can expand without pushing up inflation.
The potential growth rate had stood at 5.2 percent in 2001 and 2002, but fell to 4.8 percent from 2003 to 2005 due to decreasing domestic demand. It further slipped to 4.2 percent in 2006 and 2007, and tumbled to 3.5 percent since 2008.
Financial experts said the lower projection was in consideration of the tepid investment, shrinking workforce and weak domestic demand.
“The investment and productivity growth of the nation’s economic inputs have slowed compared to the period before the global financial crisis,” said Shin Hu-shik, the macroeconomic analyst at the parliamentary office. (Yonhap)
-
Articles by Korea Herald
