Transcription of KOREA - OECD.org
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KOREA - OECD.org
3. DEVELOPMENTS IN INDIVIDUAL OECD AND SELECTED NON-MEMBER ECONOMIESOECD economic OUTLOOK, VOLUME 2018 ISSUE1 PRELIMINARY VERSION OECD 2018179 KOREAE conomic growth is projected to remain around 3% through 2019, supported bystronger export growth and fiscal stimulus that offset the impact of tighter regulationson housing and mortgage lending, which will slow construction investment. Inflation isprojected to rise toward the 2% target, while the current account surplus narrows toaround 4% of government's income-led growth strategy, driven by increased publicemployment, a sharp rise in the minimum wage and higher social spending, needs to besupported by structural reforms to narrow large productivity gaps betweenmanufacturing and services, and large and small firms. The fiscal stimulus planned for2018 is appropriate to support growth, but should be accompanied by a long-term fiscalframework to cope with population ageing, which will be the most rapid among OECD countries.
3. developments in individual oecd and selected non-member economies oecd economic outlook,volume 2018 issue1–preliminary version © oecd 2018 179 korea
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