OECD Forecasts Korea's Potential Growth Rate at 1.9%, Lowest Since OECD Membership
The Organisation for Economic Co-operation and Development (OECD) has forecast Korea's potential growth rate at 1.9%, marking the lowest level since the country joined the OECD in 1996. This significant indicator suggests structural changes and growth deceleration in the Korean economy. Record Low Growth Rate Since OECD Membership According to the OECD's latest economic outlook, Korea's potential growth rate is projected at 1.9%. This represents the lowest figure since Korea became an OECD member in 1996, indicating that the Korean economy has concluded its era of rapid growth and stands at a new turning point. Potential growth rate refers to the maximum economic growth rate a country can achieve without inflationary pressure. A decline in this indicator signifies that the economy's fundamental growth momentum is weakening. Comparative Analysis with G7 Nations Interestingly, Korea's potential growth rate recorded a mid-level position when compared to ...