(MENAFN) Experts predict that South Korea's economic growth rate for this year will be lower than the government and the central bank's forecasts, seeing the current situation as a 'crisis', Yonhap News reported.
Financial companies and academia conducted by the Federation of Korean Industries, 82.4 percent said that the growth rate for this year will stay below 3.4 percent, below the Bank of Korea's projection.
The outlook is also lower than the government's 3.8 percent and the state-run Korea Development Institute's 3.5 percent growth estimates. Some expected a growth rate of between 2.5 and 2.9 percent.
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