Republic of Korea: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Korea
IMF Staff Country Reports, August 26, 2016
Source details
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- Republic of Korea: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Korea
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Bibliographic details
- Published: August 26, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475529920.002
Economic outlook
- Growth is projected to tick up to 2.7 percent in 2016 and 3.0 percent in 2017.
- Inflation is expected to remain subdued.
- The economy has slowed after decades of impressive economic progress.
Structural vulnerabilities and headwinds
- Identified structural headwinds:
- unfavorable demographic developments
- heavy export reliance
- pockets of corporate vulnerability
- labor market distortions
- lagging productivity
- high household debt
- Inequality and poverty are also noted concerns.
Financial sector, credit, and prudential stance
- Credit is expected to continue to grow, partly reflecting the impact of interest rate cuts.
- Credit growth is expected to be at a slower pace consistent with:
- the tightening of prudential measures
- the envisaged moderation in construction investment after 2017
Subject matter and indices covered
- Balance of payments
- Banking
- Consumer price indexes
- Current account surpluses
- Economic and financial statistics
- Fiscal policy
- Government finance statistics
- Prices
- Producer price indexes
Keywords highlighted in the report
- Consumer price indexes, core inflation, CPI index, CR
- Current account surpluses
- DTI cap, DTI ratio, DTI regulation
- economy, export reliance, Global
- Government finance statistics, headline PPI, holding
- household debt, ISCR, labor-market distortion
- liability positions vis-à-vis nonresident, Producer price indexes
Key publication facts and identifiers (as provided)
- Pages: 90
- Volume: 2016
- Issue: 278
- Series: Country Report No. 2016/278
- Stock No: 1KOREA2016001
- DOI: https://doi.org/10.5089/9781475529920.002
- ISBN: 9781475529920
- ISSN: 1934-7685
Republic of Korea: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Korea