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S. Korea's 2010 growth higher than government forecast: OECD head
SEOUL, Nov. 17 (Yonhap) -- The South Korean economy is expected to perform better than its government forecast for next year, the head of the Organization for Economic Cooperation and Development said Tuesday.
OECD Secretary General Angel Gurria made the prediction during a press conference held in Seoul on the sidelines of a seminar attended by international analysts and policymakers. His views come as the Paris-based organization plans to unveil its growth outlooks for major economies on Thursday.
Currently, the South Korean government is forecasting that its economy will grow 4 percent next year after contracting 1.5 percent this year.
The economy has made a better-than-expected rebound in recent months from the worst downturn in more than a decade thanks to government-led stimulus measures including tax cuts and increased fiscal spending.
Gurria's optimistic view comes as policymakers here cautiously predict that the economy could avoid negative growth for this year after it grew a surprise 2.9 percent during the third quarter from three months earlier.
Gurria, however, noted that the government needs to maintain its economy-boosting measures as growth is still at an early stage and is mostly driven by the state-led stimulus measures.
kokobj@yna.co.kr
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