IMF Predicts Korean Economy to Grow 4.5% in 2011

  • Arirang News

    April 12, 2011 11:00

    Korea's economy will grow at a sustainable rate of 4.5 percent this year, down from a robust 6 percent last year, the International Monetary Fund predicts.

    In a report released Monday, the IMF cites smaller export volume and higher inflationary pressure as main factors pressing down the growth rate.

    However, the organization says "exports and private consumption will remain important drivers of growth."

    Consumer prices are expected to rise 4.5 percent this year and 3 percent in 2012, while unemployment is estimated at 3.3 percent for this year and the next.

    Worldwide the IMF anticipates growth of 4.4 percent this year.

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