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South Korea finance minister says 3.8% 2015 GDP forecast achievable

Thursday, February 5, 2015 - 11:41
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South Korea's finance minister said on Thursday the government's 2015 economic growth forecast of 3.8 per cent is achievable, citing a number of factors such as falling oil prices which could boost demand.

[SEOUL] South Korea's finance minister said on Thursday the government's 2015 economic growth forecast of 3.8 per cent is achievable, citing a number of factors such as falling oil prices which could boost demand.

Finance Minister Choi Kyung-hwan told lawmakers in parliament that growth would be supported by falling oil prices, free trade agreements and expansionary policies including the central bank's two rate cuts last year.

The minister added earlier in the session that the South Korean economy is in a state of disinflation and not deflation.

REUTERS