IMF maintains 3.7% growth outlook for South Korea

The International Monetary Fund (IMF) has maintained its growth forecast for South Korea this year at three-point-seven percent, Korea’s KBS World reported. In its World Economic Outlook report issued, the IMF said South Korea will continue to see smooth economic recovery thanks to brisk exports. The IMF projected the world economy will grow three-point-six percent, down from its three-point-seven percent forecast in January. The IMF said even though overall demand has recovered, it lowered its projection because recovery in emerging economies is expected to be sluggish due to fluctuations in the financial market and China’s quality growth policies.