BOK slashes 2017 growth outlook to 2.8%

[THE INVESTOR] The Bank of Korea said on Oct. 13 that it has revised down its growth outlook for next year to 2.8 percent from the 2.9 percent forecast three months earlier.

The outlook is lower than the government’s estimate that the local economy could reach the 3 percent range next year.

BOK Gov. Lee Ju-yeol said South Korea will not have difficulties in achieving 2.7 percent economic growth this year.

BOK Gov. Lee Ju-yeol

Lee said that the central bank took into account fallout from Samsung’s Galaxy Note 7 smartphone in its quarterly revision of growth outlook.

 Source   : Economic outlookr for 2016-2017

(theinvestor@heraldcorp.com)