Seoul (AFP) - South Korea on Monday trimmed its economic growth forecast for 2015 to 3.8 percent from 4.0 percent as it vowed to continue expansionary policies aimed at spurring domestic consumption.The revised projection comes after the country's central bank this month warned its own 3.9 percent growth forecast would be "difficult" to maintain as domestic demand alternated between positive and negative territories and a weak yen hurt the price competitiveness of South Korean firms against Japanese rivals abroad.The finance ministry said Monday that, in addition to the 2015 growth forecast being lowered, its estimate for this year's economic growth was also revised down to 3.4 percent from 3.7 percent.
South Korea Trims 2015 Growth Forecast, Vows To Spur Consumption
Business Insider, Business Insider
Sun, 12/21/2014 - 11:49pm
Topics: seoul afp south korea south korean japanese president park geun-hye finance minister choi kyung-hwan china europe us federal reserve south korea korea spur consumption growth forecast percent economic year domestic ministry expected expansionary oil macroeconomic country revised monday economy billion policies pick demand bank maintain recovery prices policy
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