South Korea Hikes 2009 GDP Forecast

 @ibtimes
on June 25 2009 2:39 AM

RTTNews - Thursday, South Korea raised its gross domestic product or GDP forecast for 2009, citing signs that economic slowdown is easing on massive fiscal stimulus and interest rate cuts.

The economy will contract 1.5% this year, the Ministry of Strategy and Finance said, up from a 2% fall predicted in April.

The ministry forecast GDP to expand 4% in 2010, unchanged from its previous forecast.

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