IMF lowers 2015 growth forecast for South Korea's economy to 3.3%

The International Monetary Fund (IMF) Tuesday lowered its 2015 growth forecast for South Korea's economy to 3.3 percent from an earlier estimate of 3.7 percent.

"Korea’s growth momentum has stalled somewhat, reflecting fragile household and investor sentiment," the IMF said in its World Economic Outlook report.

"The projected growth of 3.3 percent this year rests on the assumption that supportive monetary and macroprudential policies and more favorable terms of trade spur a rebound in aggregate demand," it said.

The figure is higher by 0.2 percentage point than the Bank of Korea's (BOK) growth forecast for this year.

On April 9, the BOK cut its growth forecast for this year to 3.1 percent from the previous estimate of 3.4 percent.

Park Sae-jin swatchsjp@ajunews.com

IMF lowers 2015 growth forecast for South Korea's economy to 3.3%

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