OECD Raises South Korea's 2026 Growth Forecast to 3.7%
Mohammad Ali (@ChaudhryMAli88) | September 24, 2026 | 03:15 AM
SEOUL (UrduPoint / Pakistan Point News / WAM - 24th Sep, 2026) The Organisation for Economic Cooperation and Development (OECD) on Wednesday raised its 2026 economic growth forecast for South Korea to 3.7%, citing the country's robust exports.
The Paris-based organization's latest projection marks a 1.1 percentage point increase from the 2.6 percent forecast in its June report. The OECD projected Asia's No. 4 economy would grow 2.6% in 2027, up 0.7 percentage point from its previous forecast of 1.9%.
"The OECD has reaffirmed South Korea's strong growth momentum by raising its growth forecast by the largest margin among the Group of 20 countries," said the Ministry of Finance and Economy, according to a release on the report carried by Yonhap.
The OECD attributed strong exports and rising production to drive South Korea's economic growth this year, while a gradual recovery in consumption would continue next year.
Meanwhile, the OECD projected South Korea's consumer prices would rise 3% in 2026 from a year earlier, up 0.4 percentage point from its previous forecast. Its inflation forecast for 2027 stood at 2.7%, up 0.5 percentage point from its previous projection.