OECD cuts S. Korea's economy growth outlook for 2020 to -1.2% from 2.0%
- 4 years ago
OECD, 한국 올해 성장률 -1.2% 전망…"회원국 중 가장 양호"
South Korea's economy is forecasted to contract by one-point-two percent this year.
OECD's updated prediction published Wednesday said its forecast was based on a single-hit scenario where a second wave of COVID-19 is avoided.
But it projected that South Korea's GDP will shrink by two-point-five percent should there be a second wave.
Among the 20 OECD member countries, South Korea's drop was one of the slowest.
The report said the Korean government limited the damage to its domestic economy and is shrinking less than any other OECD country.
South Korea's economy is forecasted to contract by one-point-two percent this year.
OECD's updated prediction published Wednesday said its forecast was based on a single-hit scenario where a second wave of COVID-19 is avoided.
But it projected that South Korea's GDP will shrink by two-point-five percent should there be a second wave.
Among the 20 OECD member countries, South Korea's drop was one of the slowest.
The report said the Korean government limited the damage to its domestic economy and is shrinking less than any other OECD country.