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The state of public finances 2015: Korea : Strategies for budgetary consolidation and reform in OECD countries
- The state of public finances 2015: Korea
- OECD
- Organisation for Economic Co-operation and Development
| Title |
The state of public finances 2015: Korea
Similar Titles
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|---|---|
| Sub Title | Strategies for budgetary consolidation and reform in OECD countries |
| Material Type | Book |
| Author(English) |
OECD |
| Publisher |
[Paris, France] : Organisation for Economic Co-operation and Development |
| Date | 2015-11 |
| Pages | 6 |
| Subject Country | South Korea(Asia and Pacific) |
| Language | English |
| File Type | Link |
| Subject | Economy < Financial Policy |
| Holding | OECD |
| License |  |
Abstract
Output growth is projected to slow to around 3% in 2015, reflecting sluggish private consumption in the context of high household debt and stagnant wages. Inflation has fallen to less than 1%, well below the target range of 2.5% to 3.5%, while weak domestic demand is boosting the current account surplus to around 7% of GDP. Lower oil prices are projected to support stronger consumption and investment, boosting output growth to 3.5% in 2016.
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