S. Korea's economic growth to fall below 2% in 2023 on weak exports: KDI

KDI, 내년 성장률 전망 1.8%로 낮춰…물가 상승률 2.2%→3.2%

The Korea Development Institute, a state-run think tank, has cut its growth forecast for the local economy next year to below 2 percent,... which would be a decline from its outlook for this year of 2-point-7 percent.
In its outlook on Thursday, KDI cited the weakening of Korea's exports as the global economy slows down.
Economic growth next year, it said, will likely come to 1-point-8 percent.
As for consumer inflation, it raised its forecast to 3-point-2 percent.
That, however, would represent a decline from this year, which it forecasts at more than 5 percent.
It cites the decline in global oil prices, but 3-point-2 percent is still well above the Bank of Korea's target of 2 percent.

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