Republic of Korea : Staff Report for the 2002 Article IV Consultation

1KOREA0012003 Image
Price:  $15.00

Release Date: © March, 2003
ISBN : 978-1-45182-207-6
Stock #: 1KOREA0012003
English
Stock Status: On back-order

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Description

This 2002 Article IV Consultation highlights that the economic growth of Korea rose to about 6 percent in 2002 from 3 percent in 2001. Buoyant consumption and residential construction spending underpinned the recovery beginning in late 2001. In 2002, exports rebounded strongly in spite of a weaker-than-expected recovery in the global economy. Unemployment has eased to near pre-crisis levels, although wage rises have been matched by productivity growth. In terms of macroeconomic policies, the fiscal surplus was substantially higher than budgeted, resulting in a contractionary fiscal stance in 2002.




More publications in this series: IMF Staff Country Reports