IMF revises up its growth outlook for S. Korea to minus 3 pct

SEOUL, July 7 (Yonhap) -- The International Monetary Fund Tuesday revised up its
2009 growth outlook for South Korea's economy to minus 3 percent, citing the
government's "rapid" and "comprehensive" stimulus measures, which helped limit
its downturn.
In April, the IMF forecast that the economy would undergo a 4 percent
contraction. The latest outlook is still worse than the government's projection
of minus 1.5 percent growth for this year.
Wrapping up an annual consultation with Asia's fourth-largest economy, the
Washington-based agency, however, stressed that the outlook is subject to
"substantial uncertainty" as there are downside risks that could weigh on the
country's economy, including oil price hikes.
kokobj@yna.co.kr
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