(MENAFN- Qatar News Agency) South Korea's economy grew at a slower pace than many other Asian countries last year, data showed Thursday, raising worries that it might be lagging behind its regional rivals in terms of growth momentum.
According to the growth outlooks provided by major investment banks and averaged by the finance ministry here, South Korea's economy was forecast to have grown 2.8% last yea
The 2013 growth rate for Asia's fourth-largest economy represented the ninth highest among 10 major Asian countries whose economic data was analyzed by the investment banks, including Goldman Sachs and JP Morga
China's economy expanded 7.7% , the fastest among the grou
The Philippines came in second with 7%, followed by Indonesia with 5.7%, India with 4.6 percent and Malaysia with 4.5%, the data showe
Taiwan was the only country that lagged behind South Korea by growing 2% last yea
The outlooks for this year were not much brighte
The investment banks forecast that South Korea's economy will grow 3.8% this year, the seventh highest among the 10 Asian countries, according to South Korea's (Yonhap) News Agenc
The 2014 growth outlook for China, the Philippines and India stood at 7.5%, 6.3% and 5.4%, respectively, the data showed
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