A domestic think tank has revised downward its economic growth rate for South Korea next year to two-point-one percent.

In a report released on Sunday, the Korea Economic Research Institute(KERI) lowered its 2017 growth outlook by a tenth of a percentage point from its previous projection made in September.

The KERI attributed the downward revision to growing uncertainties surrounding the global economy. It also said policy makers at home and abroad will be limited in their capacity to implement economic stimulus measures.

It also expected global trade to remain sluggish as Donald Trump's election is accelerating an anti-globalization movement in the U.S. and in major European countries.

It also said there will be less maneuvering room to implement monetary and fiscal policies and foreign exchange policies, adding that lowering growth outlook for South Korea was inevitable.