South Korea’s central bank on Thursday forecast the economy to expand four percent this year, up one percentage point from its previous outlook in February. 

The upward revision comes as the country’s exports in April spiked 41-point-one percent on-year to 51-point-19 billion dollars, the biggest on-year jump in more than a decade.

The government’s expansionary policies are also believed to have been reflected in the adjustment.

Earlier this month, President Moon Jae-in hinted at the four-percent growth target marking the fourth anniversary of his inauguration, pledging to mobilize the government’s capacity and seek to revitalize the private sector.

The BOK also revised up its growth forecast for next year, from two-point-five to three percent.