IMF chief raises growth outlook for Korean economy

IMF 총재 "한국 올해성장 3%전망, 정부 노인, 육아 사회안전망 강화해야"

The head of the International Monetary Fund is feeling relatively upbeat about the state of the South Korean economy.
The global body has upped its growth projection for the country to three-percent this year... making it on par with the government's forecast.
Kim Ji-yeon reports.
Managing Director of the International Monetary Fund Christine Lagarde expressed optimism about the future of South Korea's economy... saying the fund projects a three-percent growth this year and the next.
Lagarde's remarks were made on Monday during her final day of her six-day visit to Seoul... to attend an international conference on Asia's sustainable growth... co-hosted by the IMF and the Ministry of Strategy and Finance, the Bank of Korea and the Peterson Institute for International Economics, a U.S.-based think tank.
Previously, the IMF had projected the South Korean economy would grow 2-point-7-percent this year.
Lagarde cited strong resilience of the country's economy despite heightened tensions stemming from North Korea's nuclear threats,... as well as Seoul's trade agreements with multiple trading partners... as the main reasons for its recent assessment.
Going forward, Largarde suggested Seoul to use its fiscal space towards resolving its chronic socio-economic issues of raising childcare and elderly support,... concerns that are intertwined with its rapidly aging society and thus, declining productivity.
On the people-centered inclusive growth initiative set forth by President Moon Jae-in, who she met earlier on Monday,... Largarde said she positively viewed the cause saying raising the country's minimum wage could help people spend more becoming a basis for boosting domestic consumption.
Kim Ji-yeon, Arirang News.

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