Anchor: The International Monetary Fund(IMF) has raised its growth forecast for South Korea for next year by zero-point-one percentage point to three percent. It is the first time in a year and nine months that the IMF pushed up its growth forecast for South Korea. The international organization maintained South Korea's growth estimate for this year at two-point-seven percent.
Our Kim In-kyung has more.
 
Report: The International Monetary Fund(IMF) has increased its 2017 growth forecast for South Korea from two-point-nine percent to three percent.
 
The Ministry of Strategy and Finance said Sunday that in a report, the IMF took into account South Korea's expansionary economic policy, including its decision to implement a supplementary budget of eleven trillion won in the second half of this year. 
 
In its latest outlook issued before the Group of 20 finance ministers' meeting in China, the IMF kept its growth estimate for this year unchanged from April.
 
It is the first time that the IMF raised South Korea's growth forecast since October 2014. At the time, the international organization forecast South Korea's 2015 growth rate at three-point-eight percent, but revised it up to four percent six months later.
 
Economists like Professor Yang Jun-sok from the Catholic University of Korea highlighted that the IMF has a positive view of the South Korean economy compared with the United States, Europe or Japan.
 
[Sound bite: Professor Yang Jun-sok - Catholic University of Korea (Korean)]
"The IMF pushed up the growth rate by zero-point-one percentage point because of the government's supplementary budget. Also, although many in South Korea are concerned about high government debt, it isn't as worrisome as in other OECD countries. But one word of caution is that the IMF has a history of setting a high projection and later lowering a country's growth rate."
 
The IMF estimated that advanced countries will grow one-point-eight percent both this year and next, down zero-point-one percentage point and zero-point-two percentage points each from its projections three months ago. The growth forecast for emerging countries remained unchanged at four-point-one percent for this year and four-point-six percent for next year.
 
The IMF forecast that the U.S. economy will grow two-point-two percent this year and two-point-five percent next year. The 2017 outlook is unchanged from the IMF's previous forecast, but this year's projection is down zero-point-two percentage points in reflection of the strong dollar, weaker global demand and lower foreign investment.
 
Britain was expected to grow one-point-seven percent and one-point-three percent respectively this year and next. The growth rates have been lowered by zero-point-two percentage points and zero-point-nine percentage points, respectively, due to uncertainties and weaker demand stemming from its decision to exit the European Union.
Kim In-kyung, KBS World Radio News.