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Politics : Formerly About Applied Materials
AMAT 327.03+2.5%Jan 16 3:59 PM EST
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To: Proud_Infidel who wrote (42170)2/14/2001 10:03:20 AM
From: Proud_Infidel  Read Replies (1) of 70976
 
Korea Development Institute Lowers Growth Forecast to 4 Pct.
February 14, 2001 (SEOUL) -- The state-run think tank, Korea Development Institute, recently forecasted that the Korean economy would grow about 4 percent in 2001, following a downward revision made by foreign institutions such as the International Monetary Fund and JP Morgan.



KDI reportedly delivered its revised forecast to the Ministry of Finance and Economy that growth will be lowered to 4.6 percent, down 0.5 percentage points from the previously anticipated 5.1 percent.

In a related note, Jin Nyum, the Minister of Finance and Economy, remarked that growth would fall to below 4 percent should the U.S. face a hard-landing of its economy in 2001.

Meanwhile, the IMF said on February 1 that Korea's GDP growth rate will be halved to 4 percent to 5 percent this year from about 9.5 percent in 2000.

JP Morgan also downgraded growth outlook for Korea to 4 percent range from the previous 5.3 percent as consumption in the U.S. has been declining at a quick-than-expected pace.

Chon Chul-hwan, head of the Bank of Korea, also said on February 8 that Korea might face a lower-than-expected growth rate of 4 percent.

(Maeil Business Newspaper, Korea)

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