The nation’s top financial policmaker Friday said next year’s economic growth rate may fall below 3 percent.
In a parliamentary hearing Friday, Financial Minister Kang Man-soo said, “Considering the current economic trend and other indicators, [the growth rate] will continue to fall as time passes,” Financial News reported Saturday.
The finance ministry forecast that the Korean economy would grow 4.8 to 5.2 percent next year in late September when it released the nation’s next year budget. But early this month, it revised the figure to be 3.8 to 4.2 percent. Park’s comment now indicates that the number will be revised again.