2월 3일 (화) Economy to bottom out in 2009

[Nios(임규철)]

Economy to bottom out in 2009

Koreas economy is spiraling downward but will bottom out early next year, an International Monetary Fund official said yesterday.
Subir Lall, division chief in the Washington-based organizations Asia-Pacific department, said that the Asias fourth-largest economy will further deteriorate before it begins a slow recovery in 2009.
All indicators are pointing to a slowing of the domestic economy, he said in a speech in Seoul. He was in town for regular consultation with Korean government officials.
Last month, the IMF slashed its economic growth forecast for Korea to 2 percent from 3.5 percent, saying a major economic downturn worldwide will hurt the countrys export-driven economy. The economy grew 5 percent in 2007.
The countrys quarterly GDP growth slowed to 0.5 percent in the last quarter, the slowest pace in nearly four years.
Lall said while general measures of Koreas economic activity are deteriorating, exports will take a particularly harsh battering from the global slowdown. Overseas shipments account for nearly 40 percent of the countrys gross domestic product.
On a positive note, he predicted that the country would be able to eke out a surplus on its current account balance in 2009, while inflationary pressure will ease.
He also said Koreas financial system, battered by a global credit crunch and a sharp slowdown in domestic economy, still has strong fundamentals and the country external debt situation was stable.

1. These days, our economy is so bad. Have you worried about Koreas economy?

    Do you think it is seriously?

2. What can we do for economy getting better? How can we deal with that kind of problems?