Hong Kong's daily praises Team Korea
Written: 2002-06-06 00:00:00 / Updated: 0000-00-00 00:00:00
Hong Kong's economic daily said that Korea is the pride of Asia not only for its economy but for soccer. The daily said .....Korea overcame economic crisis in a short time and has made eqaully surprising achievement in soccer. It said that Asia expects that Korea will make a new history in Asian soccer. Hong Kong's daily praises Team Korea The Ministry of Finance and Economy said Thursday....the government has decided to raise gross domestic product (GDP) growth forecast to the lower half of the 6 percent level from the original 5 percent level for this year. Inflation is expected to stop at approximately 3 percent and unemployment will plunge to 3-3.5 percent. The changes are in part due to expectations that the nation's exports and equipment investments would improve and consumer confidence would not deteriorate in coming months. Park Seung, governor of the Bank of Korea has forecast that the nation's GDP growth for this year will reach higher-than-expected 6-7 percent. The ministry predicted that inflation will stop around 3 percent following the recent dollar's depreciation on the won and unemployment is expected to dip into 3 percent or so thanks to the escalating economic growth rate. The current account surplus is expected to drop below 5 billion dollars from the initially estimated around 5 billion dollars on expectations that the Korean currency's strength against the greenback may have great influence on the nation's current balance in the second half. The government will announce the revision when it decides on economic policy plans for the latter half at the end of June.
Editor's Pick