Fitch Further Cuts Korea's Growth Forecast

  • Arirang News

    September 09, 2020 08:24

    Global ratings firm Fitch has slashed Korea's economic growth forecast for this year by 0.2 percentage point to -1.1 percent due to the recent resurgence of COVID-19 here.

    However, in its report Tuesday, Fitch noted that the contraction is less pronounced than in other countries thanks to successful quarantine measures.

    It predicted that the country's economy would see a continuous recovery.

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