OECD Forecasts Korea to Grow by 3.8% in 2015
kpride, Nov. 7, 2014, 9:11 a.m.
The OECD says major risks are on the horizon for the global economy if advanced nations don't step up their growth policies. Ahead of the G20 Summit set to open in the Australian city of Brisbane next week, the research body said in a report that the global economy will expand 3.3 percent this year before picking up to 3.7 percent next year. The OECD forecasts the Korean economy to grow 3.8 percent next year, slightly lower than the government’s prediction of 4 percent.
The organization for Economic Cooperation and Develoment is an international economic organization of 34 countries founded in 1961 to stimulate economic progress and world trade. It is a forum of countries committed to democracy and the market economy, providing a platform to compare policy experiences, seeking answers to common problems, identify good practices and coordinate domestic and international policies of its members.