‘Investigation of Expert Opinion on Economic Outlook and Major Economic Issues’
(Seoul = Yonhap News) Reporter Kim Bo-kyung = A survey result that Korean economists predict that the Korean economy will recover slowly this year and record an economic growth rate of 2.4%.
On the 10th, the Korea Employers Association announced the results of the ‘2021 economic outlook and expert opinion survey on major economic issues’ conducted with 214 professors of economics and business administration at four-year universities nationwide.
Respondents predicted an average of 2.4% this year’s economic growth.
This is lower than the forecast of domestic and foreign institutions such as the Bank of Korea (3.0%), Korea Development Institute (3.1%), and the Organization for Economic Cooperation and Development (2.8%).
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When asked about the future Korean economy, 55.1% of the respondents answered’Nike-type recovery’ (the economy recovers at a gentle pace).
17.8%, 13.6%, and 10.7% respondents of’L-shaped recession’ (long-term recession),’V-shaped rebound’ (recovering quickly after a temporary shock), and’W-shaped double dip’ (the recovered economy again contracted), respectively. Appeared as.
Respondents assessed that the economic impact of the novel coronavirus infection (Corona 19) was similar to that of the International Monetary Fund (IMF) financial crisis. They also answered that they are experiencing a 30% greater feeling than the 2008 global financial crisis.
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As for the government’s fiscal management policy this year, 48.1% of the respondents answered,’Financial expansion is necessary, but minimal.’
This was followed by’there is a need to maintain balanced fiscals’ (22.4%),’must expand more than the recent trend’ (21.5%), and’a tighter fiscal is necessary’ (7.9%).
In addition, 49.3% of respondents said that industrial restructuring should’minimize government intervention and leave it to the market.’
Regarding the highest rate of inheritance tax, 55.9% of respondents said,’A reduction is necessary to ensure business continuity’.
When asked about the impact of the inauguration of the US Biden administration on the Korean economy, the most 59.3% said,’There will be no significant difference in the impact on the overall economy.’
The answers of’positive’ and’negative’ also showed 36.0% and 4.7%, respectively.
The reasons for answering positive were’global export increase’ (67.5%),’export increase to the US’ (24.7%), and’expand new business opportunities’ (6.5%).
An official from the KIC said, “Experts forecast this year’s economic growth rate more conservatively than institutions,” he said.
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2021/01/10 12:00 sent