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The International Monetary Fund predicts the Korean economy to grow a little over 4 percent in 2008.
In its latest World Economic Outlook the IMF says its projection for Korea is a 0.8 percentage point drop from the year before, citing domestic price hikes and soaring global oil prices.
The report says Korea's consumer prices will jump almost 1 percentage point to 3.4 percent this year given high global grain prices but will drop under 3 percent in 2009.
As for the global economy the IMF has lowered its growth forecast from January's 4.1 percent to 3.7 percent.
Arirang News
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