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IMF raises growth forecast for Korean economy from earlier projections Updated: 2017-11-14 20:06:57 KST

The International Monetary Fund adjusted up its economic growth projection for Korea this year.
3.2-percent, a spike of two tenths of a percentage point from last month's forecast.
The IMF expects the pace of the nation's economy to continue near that level into next year, too, staying at around 3 percent.
The findings were released after a team from the global body paid a two-week visit to Seoul.
Government expansionary fiscal policies including its 9.8-billion U.S. dollar supplementary budget bill and the country's record-low interest rates are the main reasons for the new IMF numbers.
But the team adds, in order to pick up the country's potential growth rate, the Moon administration must do more to increase flexibility in the labor market, while boosting social security.
KOGL : Korea Open Government License
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