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Macro - Country Economic Forecasts - South Korea

Publisher Oxford Economics
Published Mar 17, 2022
Length 10 Pages
SKU # OFE17031966

Description

Macro - Country Economic Forecasts - South Korea

We have cut our GDP growth forecasts by 0.3ppts to 2.8% in 2022 and by 0.1ppt to 2.8% in 2023 to reflect the impact of the Russia-Ukraine war. While South Korea has limited direct trade links to Russia and Ukraine, the war has led to higher commodity prices that will worsen the terms of trade and raise CPI inflation, which will dampen domestic demand. We now see CPI inflation at 3.3%, up from 3% previously and 2.5% in 2021.

Table of Contents

10 Pages
Macro - Country Economic Forecasts - South Korea
South Korea: Russia
Ukraine war prompts growth downgrades
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Background
Economic development
Structure of the economy
Balance of payments and structure of trade
Policy
Politics

Pricing

Currency Rates
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