The Korea Economic Research Institute(KERI) has raised its outlook for this year’s economic growth to two-point-five percent, based on upbeat expectations about an improving global economy, which will boost the nation’s exports.
 
The revision to the outlook was delivered in a report on Thursday.
 
The revision is up zero-point-four percentage points from the think tank’s initial prediction of two-point-one percent, which was released last December. But it is still zero-point-three percentage points lower than last year’s figure at two-point-eight percent, due to sluggish domestic consumption and the government's limited economic stimulus policies.
 
The private institute predicted that the nation’s current account surplus will decrease from 98-point-seven U.S. dollars last year to 92-point-two billion U.S. dollars this year.
 
In January, the International Monetary Fund raised this year's growth forecast for the global economy from three-point-one to three-point-four percent.