(MENAFN) A think-tank has sharply cut South Korea's 2015 economic growth forecast, citing falling exports and the outbreak of the MERS disease, Yonhap News reported.
The LG Economic Research Institute (LGERI) revised down its economic prediction to 2.6 percent from an earlier 3 percent. In 2014, Asia's fourth-largest economy expanded 3.3 percent.
The downgrade was largely attributed to the country's weak exports, as well as the negative impact of the Middle East Respiratory Syndrome (MERS) outbreak on domestic consumption.
In June, the country's exports shrank 1.8 percent to USD46.95 billion. In the first half of the year, outbound shipments backtracked 5 percent from a year earlier to USD269.01 billion.
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