IMF lowers S. Korea’s economic outlook from 2.6% to 2.0%, world outlook also slashed

IMF lowers S. Korea’s economic outlook from 2.6% to 2.0%, world outlook also slashed


the International Monetary Fund made a
fifth straight cut to its 2019 global growth forecast to three percent
studying abroad deceleration across the world’s largest economies as trade
tensions undermine the expansion it’s the I’m s lowest projection in almost a
decade South Korea’s growth forecast for this
year was also slashed to a lowly 2% from its previous outlook of 2.6 percent our
amine Sun starts us off the IMF has downgraded its 2019 global economic
growth outlook amid the worsening economic slowdown in its World Economic
Outlook report released on Tuesday the IMF forecasts the global economy will
grow 3 percent this year down from its previous forecast of 3.3 percent that
was made in April it’s the imf’s lowest projection since the 2008 global
financial crisis the report says the latest adjustments were made due to the
risk factors such as trade tensions geopolitical tensions like brexit and
worsening financial sentiment the IMF chief economist called on policymakers
to take actions to counter risk to growth and to boost economic activity to
rejuvenate growth policymakers must undo the trade barriers put in place with
durable agreements rein in geopolitical tensions and reduce domestic policy
uncertainty such actions can help boost confidence and reinvigorate investment
manufacturing and global trade global economic growth for next year was also
lowered to 3.4 percent next year’s growth is expected to rise from this
year’s forecast driven by positive recovery signs from emerging economies
like Brazil Mexico and Russia the imf’s economic growth outlook for South Korea
in 2019 was also significantly downgraded to 2 percent from the
previous 2.6 percent South Korea was one key Asian economy to
face a large downgrade adjustment due to the ripple effect of
China’s economic slowdown and Beijing’s trade conflict with the US the IMF also
said tougher trade regulations between South Korea and Japan have strengthened
uncertainty in trade policy and barriers and warned of negative impacts on both
countries and the region’s supply chain in insan Arirang news

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