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UN agency forecasts 2.5% growth for global economy in 2020; S. Korea 2.3%
Updated: 2020-01-17 16:32:36 KST
The UN Conference on Trade and Development forecasts the global economy to grow two-and-a-half percent in 2020.
The world economy expanded by just 2.3 percent last year, its slowest pace in a decade.
The report also said, South Korea's economy will also grow two.three percent this year, up from two-percent in 2019.
It also forecasts that the South Korean government will increase its spending by eight-percent this year, which will stimulate domestic demand and private consumption.
However, the report said, export growth is expected to be sluggish due to the ongoing trade conflict with Japan.
Reporter : seungjae86@gmail.com