The Asian Development Bank (ADB) has predicted the Republic of Korea’s economy will grow 3 percent this year, following last year's 3.1 percent growth.
Seoul (VNA) – The Asian Development Bank (ADB) has predicted the Republicof Korea’s economy will grow 3 percent this year, following last year's 3.1percent growth.
Asia's fourth-largest economy is likely to benefit from a recovery in majoreconomies and private spending, Yonhap news agency quoted the regional bank assaying.
In December of last year, the ADB forecast the 3 percent gain for the RoK economy.The institute said next year's growth estimate for the RoK is set at 2.9percent.
The ADB said growth picked up across most of the economies in developing Asiaand supported by continued high demand for exports and rapidly expandingdomestic demand.-VNA
The Singaporean government has upped its economic growth forecast to 15 percent for this year, possibly making the country the fastest growing economy in the world in 2010.
The International Monetary Fund (IMF) kept its forecast for economic growth in 2017 of the Republic of Korea (RoK) at 2.7 percent, despite signs of a recovery in the country's exports.
The Republic of Korea (RoK)’s government on July 25 raised the country’s economic growth forecast by 0.4 percent to 3 percent as Asia’s fourth largest economy has been enjoying increased exports led by the global economic recovery, Yonhap News Agency reported.
The Bank of Korea (BoK) has said that the Republic of Korea’s economic growth hit a seven-year record high in the third quarter due to increased construction investment and exports.
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Busan Port of the RoK (Source: EPA/VNA) 
