South Korea's economy may slow down in 2012 | Irish Sun

South Korea's economy may slow down in 2012

Irish Sun (IANS) Monday 12th December, 2011

South Korea's economic growth was expected to slow down next year due to growing uncertainties such as Europe's debt crisis, the Korean finance ministry said Monday.

The country's economy was projected to grow 3.7 percent in 2012, down from 3.8 percent estimated for 2011, according to the ministry of strategy and finance.

The 2012 growth outlook was revised down from 4.5 percent estimated in September, and was in line with the growth outlook made by the Bank of Korea (BOK) last week, reported Xinhua.