The International Monetary Fund(IMF) has lowered its outlook on South Korea’s economic growth for this year to two-point-six percent.
 
The global lender on Tuesday released its revised economic growth forecast for major economies ahead of a two-day meeting of G20 financial ministers and central bank governors in Germany set to begin on Friday.
 
The latest IMF figure for South Korea is zero-point-four percentage points lower than the previous prediction made in October.
 
The South Korean government is also targeting an economic growth of two-point-six percent this year, while the Bank of Korea foresees it will be a two-point-five percent growth. 
 
The IMF also lowered the economic outlook on South Korea for next year by zero-point-three percentage points to two-point-eight percent.
 
Meanwhile, the IMF said the economies around the world will grow by three-point-four percent this year and three-point-six percent next year on average.