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The state of public finances 2015: Korea : Strategies for budgetary consolidation and reform in OECD countries

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  • The state of public finances 2015: Korea
  • OECD
  • Organisation for Economic Co-operation and Development


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Title The state of public finances 2015: Korea
Similar Titles
Sub Title

Strategies for budgetary consolidation and reform in OECD countries

Material Type Books
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.