An increase of 0.4%P… The highest along with America
The Organization for Economic Cooperation and Development (OECD) raised Korea’s economic growth rate forecast for this year from 2.2% to 2.6%. Among the 20 large countries (G20) with a per capita income of $20,000 or more, this figure is the highest along with the United States. Emphasis is understood to be placed on a clear economic recovery despite concerns about the ‘three peaks’ holding back the Korean economy, such as high inflation, high interest rates, and high exchange rates.
In the economic forecast released on the 2nd (local time), the OECD raised Korea’s economic growth rate forecast by 0.4 percentage points. This is the first time that the OECD has officially adjusted its forecast upwards, reflecting the fact that preliminary gross domestic product (GDP) in the first quarter of this year increased by 1.3% compared to the previous quarter (3.4 % compared to the same). last year’s period). The OECD predicted that “export strength will continue due to the recovery in demand for semiconductors, and weak domestic demand will also improve with interest rate cuts in the second half of the year.”
The US growth forecast was also raised from 2.1% to 2.6%. The slowdown in US Gross Domestic Product, recording an annual growth rate of 1.6% in the first quarter, was seen as a ‘temporary pause’. The OECD raised its global growth forecast from 2.9% to 3.1% and evaluated it as a “gradual recovery after the trough.”
Reporter Sejong Lee Young-jun
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