[Breaking] Bank of Korea Slashes Next Year's Economic Growth Forecast from 2.1% to 1.7%
![[Breaking] Bank of Korea Slashes Next Year's Economic Growth Forecast from 2.1% to 1.7%](http://www.asiae.co.kr/news/img_view.htm?img=2021061808010985412_1623970870.png)
The Bank of Korea forecasted on the 24th in its revised economic outlook that South Korea's economic growth rate will reach 1.7% next year.
This is a downward revision of 0.4 percentage points from the August forecast of 2.1%.
The growth rate forecast for this year is 2.6%, and the outlook for 2024 is 2.3%.
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The consumer price inflation rate is projected to be 5.1% this year, 3.6% next year, and 2.5% in 2024, respectively.
This content was produced with the assistance of AI translation services.
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